[ I'm going to be as nice as I can with a response to this post: Either you or your accountant (or both) are retarded and bad at math to boot. Unlike Barbie's advice, not the time to go shopping.
I'm no tax wiz but I know plenty of people that do as OP is taking about so there has to be something to it.
Danger! Danger! Dungeon Zone! That warning went off in my head as I considered a reply to the above post.
This will go downhill quickly This is when it “makes sense”: If the top 50k of your net income is going to be taxed at 30% and you decide to leave it in the bank, you’ll give Uncle Sam $15,000. If you don’t “need” it and can spend 50k on a truck, you’ll give it all to the car dealer and none to Uncle Sam. The tax system is set up to encourage spending. I’m out!
Yup 5.3L I have one here in NC and one I keep out west, they came with full leather, real nice adjustable heated seats, in the Crew and Extended cab versions, they can tow 7k pounds and they hall ass with 300hp and Z71 suspension
You can call me and my accountant an idiot if you want, but I can either give uncle sam 40% of what I would spend on a car or I can go buy the car have something way nicer than I have now and not pay that money to uncle sam, and since I will register it in Montana there will be no sales tax either. So spending my money before the politicians get rid of my ability to buy a car pretax is stoopid, i guess I should wait until the new tax plan comes that will not reduce my taxes, and reduce my ability to write stuff off, yes you are all correct, I should wait for the feds to tax my money, then spend my money. I already pay enough in taxes, I am a pass through corp so almost 50% of my income goes to taxes, by the time I pay the 15% employment tax on the salary of employees and all the other taxes to the state, then pay income tax state and federal, it works out to be almost 50%, so there you go.