Farmer Giles wrote:
Everyone on the board has so far agreed with me:
Not even close.
Farmer Giles wrote:There is always a taxless alternative.
No, there are instances where a transaction does not lead to taxes and there are items excluded or deducted from gross income, but there is NOT always a taxless alternative.
Farmer Giles wrote:That the original equity is routinely discounted.
You are misusing accounting terms. Equity contributions by an owner in a company increase stockholders' equity but do not result in income. However, the definition of equity contribution is not what you claim it is.
Farmer Giles wrote:That accession is different from succession.
Yes, those words have different meanings.
Farmer Giles wrote:That Income is only derivable by its basic concept. You can't normally accrue Income, it's a contradiction in terms since Income is a benefit derived from a 3rd party.
You are attempting to use big words without understanding their meaning.
Farmer Giles wrote:That the same transaction can equally be categorized in some nonliable manner, and any limitation to this is artificial. Since it can’t be found in nature, it has to come by attachment.
If the law says no, then no you cannot categorize a transaction in any manner that you see fit. See 26 USC 446. BTW, except as otherwise provided by law, the taxable income from farming of a corporation or partnership engaged in the trade or business of farming shall be computed using the accrual method of accounting.
Farmer Giles wrote: If I’ve shown that posters make wrong statements, well, that’s because the statement are wrong. It has nothing to do with “knowing more” than anyone else, professional or otherwise. You just don’t like it that the Truth is being pointed out, so you try to disparage somehow te messenger.
No, you have not. Many posters here have tried to explain to you over the past 250 posts that you are wrong, that you have many concepts mixed up and, in general, do not know what you are talking about.
Light travels faster than sound, which is why some people appear bright, until you hear them speak.