Would you accept this offer?

No, im implying that the amount of time and money an o/o sinks into a truck and the lowered tax liability from per diem will not accurately reflect an o/o s bottom line income. A guy thats "200k in debt", paying 6-7k in truck payment every month taking depreciation will have a much lower tax liability and income may look like theyre impoverished, but after 3 years they could have 0 truck payment and still have a truck thats not constantly in the shop. Also how do you quantify the self satisfaction a guy gets from doing his own work on the truck? Or the hometime if he has paid things off and is relaxing a bit (40-45 weeks a year) instead of wrecking his body and mind like the company drones working 50 weeks a year, tax liability will be lower because total expenditure to income will be higher, but the revenue could have been higher at the cost only of time since the existing fixed costs were already mostly* taken care of (*fuel and oil chg interval/washes would be a fixed cost based on miles run, but everything else mostly would be taken care of)

This is somewhat true for buisness owners too (sole proprieterships) because a significant chunk of the wealth is usually tied up in their buisness as well.

It is not lying to lower tax liability by spending the money in investing in your buisness growth or health. If you don't understand that, you dont understand the irs or buisness and should stay an ignorant w2 drone and more importantly your opinions to yourself

 

The best one was the guy or girl that kept quoting lord of the rings, Gamby!!! That person was great

 

The US govt throws money at immigrants.

If the OP was a citizen he wouldn’t be getting offers for a SBA loan.

anyone that’s ever actually tried to get a SBA loan for a legit business purpose , will know what I’m saying .

 

So what type of small business do you have to get that 20k loan?

 

Hush! Hush right now.

 

The whole point of my post was to state that I don't believe word of mouth figures. Show me on paper how much you earned otherwise it's just talk and everyone is pulling down $250K per year.

Hypothetical quality of life or pride of truck ownership doesn't factor into dollars and cents income.

Telling me that an OO made $70K last year but they only work 1 day a week and have a paid off gold plated Peterworth is still only $70K income.

 

Nope....I just figured it out Solo Soul is.............Hopeful eyes!! Go back and read the myriad of posts and replies by Hopeful eyes. It is obviously the same person.

 

No one here is qualified to give you much advice on this matter.
In fact, I dont believe anyone on this planet is qualified.
We live in strange times. We might have crazy inflation coming in which case you will be paying back this loan with inflated currency that is easy to come by.
One sure hedge against inflation is borrowed money turned into real assets.

But


We could almost as easily face deflation.
I know that seems crazy with the way we a printing money but dont for a second think its off the table.
Economists have a ton of huge question marks that they cant quite fill in right now.

We live in strange times and you are asking about gambling

Good luck my solo friend

 

Hopeful Eyes, I noticed it several weeks ago

 

Winner winner chicken dinner!