Life often brings us those moments that are way more interesting than anything we could ever make up.
Such was the situation when my husband and I were working on our taxes this year. My husband, in his desire to ensure we keep all the money we can legally, combs through all the tax publications and forms with a fine tooth comb. You can imagine my amazement and laughter when he pointed out the following paragraph from Publication 525, page 36:
"Stolen Property. If you steal property, you
must report it's fair market value in your income
in the year you steal it unless in the same year,
you return it to it's rightful owner."
So my husband says, "Hey, if I steal a car, and use it all year long, but return it to the rightful owner at the end of the year - I don't have to report it as income!"
He Came to a World at War: O King of Nations
5 hours ago
9 comments:
And to think-- we've missed this tax break all these years!
tooo funny!!
Blessings, andrea
Niccccccce!
Our legislators hard at work. Pay them more!
That's funny. Have a great weekend sister Tracy. God bless.
weee..that was nice :))
have a good day :D
Ohmigosh, I had no idea that was in there! I doubt if my hubby knows that, otherwise we would have been laughing our butts off a long time ago...
Thanks for the laugh. Enjoy your day.
Maybe we should encourage more crooks to return their stolen goods - and if that works we can offer them government bailouts for lost wages.
That's what got Al Capone put away for tax evasion and embarrassed Geraldo Rivera in front of the safe - not paying taxes on illegal gain.
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