Dick Adams wrote:
- quote -

speaking of success in accounting.

The senior partner of a major firm was at his retirement dinner after 45
years of continuous and most prosperous service to both his firm and the
profession. His successor was speaking after dinner and related how he
noticed the senior every morning upon arriving at the office going to
his wall safe, unlocking it, taking out a small folded piece of paper,
opening it up and reading it while in deep thought. He would then nod,
smile and replace the memo and spin the lock on the safe.

So, he asked the senior, just what was so important about that after all
these long years of working in public accounting? What IS written on
that piece of paper. the senior just sat silent, but after dinner
passed along to his successor the combo to the safe.

Next morning, he couldn't wait to get to the office and open the safe.
36 right; 37, left; 11 to the right! Click! suspense............!

He took out the small quad folded note and opened it up and to his
amazement it read:

.....

.....



...



..
"Debits to the door; credits towards the window."



(grin)



ChEAr$,
Harlan

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Harlan Lunsford <lunstax[at]bellsouth.net> wrote:
- quote -

And all these years, I thought it was "Plug n Fudge".

Dick

--
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Stuart A. Bronstein wrote:
- quote -

I was about to say, "the secrets of success in accounting are: Pro
rate and Allocate".

ChEAr$,
Harlan

--
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sethb[at]panix.com (Seth) wrote:
- quote -

But that won't help with the second fry.

Stu

--
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In article <ti3Rk.170$Lv6.0[at]bignews8.bellsouth.net> ,
Paul Thomas, CPA <paulthomascpapc[at]bellsouth.net> wrote:
- quote -

So in that situation you should eat one fry in Alabama ("first use")
to avoid the issue?

Seth

--
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paultry wrote:
- quote -


On a more practical note however, Georgia, just across the river doesn't
have a state sales tax on groceries, so my wife pays only the local
sales taxes of 3% the few and "de minimus" times she shops there.

ChEAr$,
Harlan

--
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Harlan Lunsford wrote:

- quote -

But what about those untaxed groceries purchased in Florida
and taken home to Alabama?

--
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Paul Thomas, CPA wrote:
- quote -

(balance snipped....)

Howsoever...... The Georgia use tax is 4%, at least I reckon it is,
and since you get a credit for any sales tax paid the other state,
Alabama, whose rate is also 4% it nets out to zero.

Clarification: "Phjoenix" = "Phenix" City.

grin

ChEAr$,
Harlan

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Seth" <sethb[at]panix.com> wrote
- quote -


First use or consumption. That's the technicals, but it'll never get that
far in reality (or yet anyway). As the law is written, if Iwere to go to
Phjoenix City Alabama and buy a Big MAc meal then drive into Georgia to
consume that meal, the use tax is due on that consumption, although the
amount is minimal when consider the cost and the fact that the evidence the
tax collector might use is kind of $hi++y.

But lets bring that to reality and address the tire being "used" in that
state. A contractor is generally considered to be the end user / consumer
of the materials it uses to build the building. They pay sales tax on the
materials when they buy them. If, say, the plumber with the contract to
plumb a new 150 room dorm at the University calls the toilet manufacturer
and gets them to load up a truck for delivery (or they go and get it), then
a "use" tax is due from the contractor to the state the building is in - not
the state they buy it from.





- quote -



Absolutely.





--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In article <ISGQk.52755$IB6.333[at]bignews8.bellsouth.net> ,
Paul Thomas, CPA <paulthomascpapc[at]bellsouth.net> wrote:
- quote -

You didn't first use it for the exercise of lifting it into your trunk
in the state where you bought it?

(Is use tax about "first use"? So if I buy something in a
no-sales-tax state and use it before returning home, no use tax is
owed?)

Seth

--
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"Harlan Lunsford" <hlunsford[at]bellsouth.net> wrote

- quote -




Yeah. Not by the Dems measure.





--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
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Paul Thomas, CPA wrote:
- quote -

Huh? via umployment benefits? You mean I won't get another
1,200$?????? But..... I'm entitled.
- quote -

ChEAr$,
Harlan

--
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"Harlan Lunsford" <hlunsford[at]bellsouth.net> wrote
- quote -




My take on that was it's for the unemployed, so pay it out through
unemployment benefits or other welfare systems and not involve the tax
system. As it is, it'll be January when the new Bozo's take control, and
it'll be into February or March before most find their way around inside the
beltway, April or May before any respectable (and that may be what keeps it
held up for months) legislation comes forward. By then we're well on the
way out of the recession they're just now deciding we're in. Most of the 08
returns will be filed.



All I see from this is more business in tax planning for the new 2010 tax
laws.




--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
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rick++ wrote:
- quote -

package. brrr....!

ChEAr$,
Harlan

--
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Paul Thomas, CPA wrote:
- quote -

Hmm, sort of like having two flat tires on a country road up in Tugaloo
river country. scarrrry!

ChEAr$,
Harlan

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Stuart Bronstein" <spamtrap[at]lexregia.com> wrote
- quote -



Right..............

I first "used" that tire in that state, so.....



Oh the wicked tax tales we could weave.




--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
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"Paul Thomas, CPA" <paulthomascpapc[at]bellsouth.net> wrote:
- quote -

Remember the use tax?

Stu

--
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"Mark Bole" <makbo[at]pacbell.net> wrote
- quote -





But if you get a flat, have someone watch your back while you change the
tire?




--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
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dapperdobbs wrote:

- quote -

It's Washington that has no income tax in that corner of the country.

- quote -

Don't worry, you can drive across the state on I-5 at a reasonable speed
without spending the night ...

-Mark Bole

--
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Congress made up for it by adding tax law
amendments to major pieces of 2008 legislation.
These include Stimulus Act, Housing Rescue Act,
Energy Act, and the Big "Bailout" Act. Lots of things
to bedevil tax preparers next season.

--
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