Optumis Posted January 8, 2002 Author Share Posted January 8, 2002 Originally posted by I Luv Roo This is taken from the IRS website - I don't really understand it myself, but if someone wants to interpret it, feel free... "Loss of Inventory" You claim a casualty or theft loss of inventory, including items you hold for sale to customers, through the increase in the cost of goods sold by properly reporting your opening and closing inventories. You cannot claim the loss again as a casualty or theft loss. Any insurance or other reimbursement you receive for the loss is taxable. You can choose to take the loss separately as a casualty or theft loss. If you take the loss separately, adjust opening inventory or purchases to eliminate the loss items and avoid counting the loss twice. If you take the loss separately, reduce the loss by the reimbursement you receive or expect to receive. If you do not receive the reimbursement by the end of the year, you cannot claim a loss for any amounts you reasonably expect to recover. Mate this may apply to the U.S... And i don't mean to sound rude or dis u yanks .. BUt America aint the only country on earth and other nation states have other laws .... But anyways .. I just wanted to make that point.... Sometime it just pisses me off how americans tend to think so americancentric. it's kind of sad in a way .. There is a whole other world out there ,.... Literally bro's .... Check it out sometime... :) Link to comment Share on other sites More sharing options...
I Luv Roo Posted January 8, 2002 Share Posted January 8, 2002 whatever you say. Now I am starting to question the validity of any of your statements. Link to comment Share on other sites More sharing options...
OPIUM3 Posted January 8, 2002 Share Posted January 8, 2002 Walmart eats it. Although stealin paint from them isn't worth the risk of hella cameras etc, etc. It's only 87 cents a can here! Thats not a horribly bad price. Thats less than a big pack of polar ice gum (99cents). I mean, how hard is it to come up on a few bucks? All you need is one can krylon black, and 3 cans walmart white. Then your on your way to bombin the town! Its not that difficult. Hell you might not even use all of it depending on how you paint. If your into big shit, just start lookin behind ace hardware or other assorted hardware stores after closing time. There is usually buff paint laying around. Its not exactly stealing, when you take that paint. Chances are, that paint had some defect to it. So its already been accounted for before you even lay your eyes on it. Fuck getting spotted by video cameras... snot worth the risk. Just take the road less traveled and your home free... Link to comment Share on other sites More sharing options...
bobobi11 Posted January 8, 2002 Share Posted January 8, 2002 My credo, "Do what you will, but harm no one" I will admit to stealing in the past. As I got older and less self-centered, I realized it was wrong. Actually I knew it was wrong all along I just wasn't smart enough to recognize it. Link to comment Share on other sites More sharing options...
sumtina3DD Posted January 8, 2002 Share Posted January 8, 2002 anyway havent read anyone elses post on this subject but i just wanted to say for myself and all the shoplifters of the world (unite and take over) umm fucking rackin and jackin is the sheit!! i fukin luv comin up on anything i swear anything and i can too cuz i gots the skills ok wait im not too skilled i have been caught and oh yeah there was that time i spent over a month in the ....well i guess its not all that good to do specially in my area which is burnt as fuck but damn i swear those days were priceless (literally) the days where stationary stores would just have boxes of fucking streaks just chillin on top of each other uni painters sakura shakers fukin beautiful outliners whole sets of designers ahh that shit was dope lets not leave out every paint store around that lost all their krylons and rustoleums on a weekly basis kirk out Link to comment Share on other sites More sharing options...
sumtina3DD Posted January 8, 2002 Share Posted January 8, 2002 whats this shit bout winona ryder? is it fukin true! 50,000 dollars worth of sheit bitch is crazeee woohoo cookoo for koko puffs!! Link to comment Share on other sites More sharing options...
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