Last Day Working At Lowes In Sylva

[BIG ACH]

Nothing wrong with having multiple sources of income. Good luck Vince

[NelsonMuntz]

Melvin, can you explain how taking a low paying job is going to offset your federal and state taxes?

Are you talking about trying to lower your tax burden?

I'm a bit baffled and certainly do not possess your business and tax law acumen

The money from lowes goes to the "Cayenne" Islands account

[Qwert II]

Melvin, can you explain how taking a low paying job is going to offset your federal and state taxes?

Are you talking about trying to lower your tax burden?

I'm a bit baffled and certainly do not possess your business and tax law acumen

Since Melvin Goodrum has never really had to pay much in taxes or owned a business of any worth, he has no idea how the tax system works.

He thinks he's tricking the govt by taking a low paying job even though he has a multitude of successful businesses, $100,000s in stocks, jewels & precious metals etc.

He doesn't realize that all personal income, whether it's from a menial labor job or a million $ company will be seen as total income & subject to taxation.

I guess when you're on food stamps, govt handouts, dead end jobs, live in a trailer etc you don't really know much about paying taxes.

[Walter Sobchak]

The money from lowes goes to the "Cayenne" Islands account

At least he's not doing something silly like buying an "Astin Martin"!

[Walter Sobchak]

Since Melvin Goodrum has never really had to pay much in taxes or owned a business of any worth, he has no idea how the tax system works.

He thinks he's tricking the govt by taking a low paying job even though he has a multitude of successful businesses, $100,000s in stocks, jewels & precious metals etc.

He doesn't realize that all personal income, whether it's from a menial labor job or a million $ company will be seen as total income & subject to taxation.

I guess when you're on food stamps, govt handouts, dead end jobs, live in a trailer etc you don't really know much about paying taxes.

Understood, but he said "offset" both Federal and State taxes.

[Qwert II]

Understood, but he said "offset" both Federal and State taxes.

Well, we should all wait for Melvin Goodrum to give us a lesson in creative taxation.

If he has any good ideas how I can save in taxes, I'd be very thankful.

Melvin, we're waiting.

[Vince G, CSN MFT]

Well, we should all wait for Melvin Goodrum to give us a lesson in creative taxation.

If he has any good ideas how I can save in taxes, I'd be very thankful.

Melvin, we're waiting.

Sure...kill yourself.

[FitnessFrenzy]

Well, we should all wait for Melvin Goodrum to give us a lesson in creative taxation.

If he has any good ideas how I can save in taxes, I'd be very thankful.

Melvin, we're waiting.

you don't get to have a Jaguar by being an honest business man.

[gmflex]

Sure...kill yourself.

 

[FitnessFrenzy]

Regardless of what Melvin Goodrum claims, Vissy probably dumped him & threw him out of his trailer. Probably got tired of a fat lazy dreamer who could never make ends meet.

 

[Thespritz0]

^^
Vissy's NEW love in life, other than smoking...

[oldgolds]

Sorry Billy Guns.....I didnt work at Food Lion bagging groceries.  I worked at Lowes answering incoming calls and doing returns....


Beat G4P
\

All work is honorable.

[drkaje]

How does one offset taxes by making more money?

Unless you're talking about a poorly run business (that doesn't hold back money for taxes) I don't see how this happens. In theory; you could take claim 0 dependents so the $8/hr. job deducted the maximum but that wouldn't really offset $165K of real income. This only makes numerical sense (to me) if the internet business gets a percentage of trade through its website.

[Qwert II]

Sure...kill yourself.

of course you can't answer, because once again, YOU lied & YOU got caught.

Don't you get tired of this Melvin Goodrum?

[Qwert II]

How does one offset taxes by making more money?

Unless you're talking about a poorly run business (that doesn't hold back money for taxes) I don't see how this happens. In theory; you could take claim 0 dependents so the $8/hr. job deducted the maximum but that wouldn't really offset $165K of real income. This only makes numerical sense (to me) if the internet business gets a percentage of trade through its website.

That's the thing. It's impossible to offset taxes by taking on another job, thus having more income.

Of all the bad lies Melvin Goodrum has told online, this one is at the top.

[drkaje]

That's the thing. It's impossible to offset taxes by taking on another job, thus having more income.

Of all the bad lies Melvin Goodrum has told online, this one is at the top.

Here's the weird thing.... I don't think it's a lie... by his definition. I think he's trying to put a positive spin on an outright business fuckup, poor planning, needing insurance, or simply needing a job to make ends meet. I don't see why anyone would have to put a positive spin on making ends meet. Lowes is honest work and beats being on welfare, in terms of contributing to society.

Numerically, it just doesn't make sense for someone earning $165K of real income per year to hang out at Lowes three years. Someone whose pre-tax time is worth $79/Hr isn't gonna be dicking around at Lowes for $8-11/Hr. Time spent increasing their website's visibility would get a higher return.

I'm not huge into math, though. There could be many reasons I'm not imagining.

[Vince G, CSN MFT]

Here's the weird thing.... I don't think it's a lie... by his definition. I think he's trying to put a positive spin on an outright business fuckup, poor planning, needing insurance, or simply needing a job to make ends meet. I don't see why anyone would have to put a positive spin on making ends meet. Lowes is honest work and beats being on welfare, in terms of contributing to society.

Numerically, it just doesn't make sense for someone earning $165K of real income per year to hang out at Lowes three years. Someone whose pre-tax time is worth $79/Hr isn't gonna be dicking around at Lowes for $8-11/Hr. Time spent increasing their website's visibility would get a higher return.

I'm not huge into math, though. There could be many reasons I'm not imagining.

165k is revenue....not gross or profit

[dr.chimps]

Hope you get a nice inscription on the gold watch.

[Qwert II]

165k is revenue....not gross or profit

165k is an imaginary #. Not gross or net profit.

You couldn't make that kind of money on any business if your trailer hitch depended on it. That's why you've worked at low paying dead end jobs all your life & come online & brag about your wealth on a bodybuilding msg board of all places.

Don't you get tired of getting caught lying all the time Melvin Goodrum?

[Raymondo]

165k is an imaginary #. Not gross or net profit.

You couldn't make that kind of money on any business if your trailer hitch depended on it. That's why you've worked at low paying dead end jobs all your life & come online & brag about your wealth on a bodybuilding msg board of all places.

Don't you get tired of getting caught lying all the time Melvin Goodrum?

Oh, it's a real number alright... I have no doubt about that. Melvin, however, only kept 5-10%. He is a middle man so he is paid a commission. Also, the number is probably spread over many years, see "Total Sales".

[Qwert II]

Oh, it's a real number alright... I have no doubt about that. Melvin, however, only kept 5-10%. He is a middle man so he is paid a commission. Also, the number is probably spread over many years, see "Total Sales".

If that's a real # & he's made 10% of 165k over 5-10 years, then how on god's green earth was he able to put away $100,000s in stocks, bonds, jewels & precious metals? Own land & shares in several franchises while working at dead end low paying menial labor jobs all of his life?

That doesn't make sense.

Melvin Goodrum, can you please elaborate. I mean, you weren't lying about all this, were you?

[drkaje]

165k is revenue....not gross or profit

Thanks for clarifying.

It makes a little more sense.

[Twaddle]

Damn, I was in Sylva last November.  If only I would've know about Lowes.     I could've stopped by, and we could've had an impromptu pose down in the hardware aisle.  Good times could've been had   

Sylva's a cool little town by the way. 

[Walter Sobchak]

165k is an imaginary #. Not gross or net profit.

You couldn't make that kind of money on any business if your trailer hitch depended on it. That's why you've worked at low paying dead end jobs all your life & come online & brag about your wealth on a bodybuilding msg board of all places.

Don't you get tired of getting caught lying all the time Melvin Goodrum?

He never said profit.

Now he is saying $165,000 of "revenue".....and we all know that cash flow is not profit.

So let's say he has a 5-10% profit on his product after mark-up. Melvin has made $8250-$16,500 over a few year period.

Yep.....you'd definitely want to take an $11.00/Hr job to offset paying taxes on that windfall.

Another Getbig bullshitter.

[Vince G, CSN MFT]

He never said profit.

Now he is saying $165,000 of "revenue".....and we all know that cash flow is not profit.

So let's say he has a 5-10% profit on his product after mark-up. Melvin has made $8250-$16,500 over a few year period.

Yep.....you'd definitely want to take an $11.00/Hr job to offset paying taxes on that windfall.

Another Getbig bullshitter.

Markup is much higher and is even 100% for ebooks and software.  But as always, my finances are just that....mine and I have other expense that I have to deal with outside of business.  Getbig is not my accountant.