hayabusa owner profile

[bajabug]

this should be interesting.

 

[STUNNAH]

You didn't indicate a negative...

 

[r1R00KIE]

Is this gross household income or individual?

 

[r1R00KIE]

Is this gross household income or individual?

Not that it matters as I'm an R1 owner

 

[A'Busa'd]

Is this income before or after mods?

 

[HayaGreg]

Is this AGI or NET?

 

[HayaGreg]

Also, does this include the 'Busa as an asset or liability?

 

[Cecil_Stringer]

Also, does this include the 'Busa as an asset or liability?

If the Busa is NOT Capitalized then it is to be treated as an Expense.
However, GAAP (Generally Accepted Accounting Principles) and FASB (Financial Accounting Standards Board) incorporates depreciation which can be used to decrease your annual liabilites over the expected useful life of the asset purchased.
Both the Balance Sheet and the Income Statement can be footnoted to incorporate the Economic value (Total Revenue = Intrinsic Expenses + Extrinsic Expenses) versus the standard Accounting value (Total Revenue = Extrinsic Expenses) thus showing a more realistic net worth with regards to the Busa.

 

[warbrown]

Also, does this include the 'Busa as an asset or liability?

If the Busa is NOT Capitalized then it is to be treated as an Expense.
However, GAAP (Generally Accepted Accounting Principles) and FASB (Financial Accounting Standards Board) incorporates depreciation which can be used to decrease your annual liabilites over the expected useful life of the asset purchased.
Both the Balance Sheet and the Income Statement can be footnoted to incorporate the Economic value (Total Revenue = Intrinsic Expenses + Extrinsic Expenses) versus the standard Accounting value (Total Revenue = Extrinsic Expenses) thus showing a more realistic net worth with regards to the Busa.

Huh???

I'd be so lost without an accountant!

 

[Revlis]

What's funny and what we all need to list here is actual NET WORTH...

Now that would be some funny shid...

 

[Revlis]

Is this gross household income or individual?

I'd say if your married call it Household, if your single call it Individual...

Call it a hunch?