(04-29-2021, 05:33 PM)jagibelieve Wrote:

(04-27-2021, 10:17 AM)HURRICANE!!! Wrote: Newsflash --- Earnings is Sales minus Expense minus Tax.

Newsflash --- Earnings can be expressed by gross.  Many farmers (and other industries) have a gross "income" (earnings) well above the $400,000.00 limit.  Their gross "earnings" - expenses - taxes often equals less than $400,000.00.  I have a son-in-law that owns a few trucks (over the road semis).  He grosses quite a bit above the limit every year, yet makes a pretty modest living after his expenses and the confiscation from the government (taxes).

Taxes are based on "earnings" (gross).

I'm sure that an "investor" such as you understands that.

I don't understand what you are saying there.  I have an accounting background, and an accounting degree, I spent time at a CPA firm doing taxes among other things, and a spent the majority of my time as a corporate CFO.  I've never seen income taxes assessed on anything but net income.  I've never seen earnings expressed as gross income.  Only net income.  

Maybe it's a semantical thing, but I don't understand your use of the term "gross income" or its relationship to the tax liability.

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