We are in the home stretch for 2016. The “election” is nearing. I got my hair done last night and God, with His sense of humor, had me sitting captive in front of the vice presidential debate at the salon. You know how I feel about politics, but I had to sit there (with my eyes closed at first) and listen. At the point that Kaine brought up Donald Trump not paying taxes I just had to open my eyes and see how Pence was going to respond. When he mentioned “net operating losses” I jumped! Gotcha’ is what I thought, until I realized that over half the people watching the debate had no clue of what he was talking about. When businesses suffer losses in a calendar year, well-structured corporate tax codes allow them to deduct those losses against previous or future tax returns. These provisions are called net operating loss (NOL) carrybacks and carryforwards. Federal code allows 20 years of NOL carryforwards and 2 years of NOL carrybacks. These “codes” were made for all businesses and business owners, democrat or republican, to reduce or even eliminate a profit in a particular year by applying losses to it from many years gone by. This is what Trump as done – simply use the provisions that are in place. The fact that political pundits keep repeating “Donald Trump hasn’t paid HIS taxes in years” let’s me know that they think I and most all of you all are STUPID! Regardless of whether you and I agree with the NOL provisions they are in place and they will probably be in place for a long time. Corporations have been taking advantage of them for ages and Trump isn’t the only one that has high paid CPA’s to find “loopholes” to help him keep what he earns. I am SURE that many of the democrat business owners have used these provisions in their businesses. The wealthy want us to fight against against each other. They want the “democrats” to fight the “republicans”. They want the Jews, Christians and Muslims to fight. They want the races to fight. All this fighting drains physical, mental and financial resources. I want to let you in on something: It has never been about party or religion or race. It’s about the “powers that be” wanting to make sure that they keep us down while they maintain and gain power and money. They look at us as SHEEPLE in a corral, and they will use any means necessary to keep us there. Are you going to continue to play into their game? Are you going to stay content in the corral? I’m not. I will learn their game and beat them at it or at least be successful at escaping the SHEEPLE corral.
On another note. I have three more speaking engagements scheduled for 2016. I have posted the information for Queens (October 15th) and Orange County California (October 29th) on this blog and you can see those details if you scroll down. In addition, I will be speaking at a Women’s Fellowship on Saturday October 22nd at 10:00AM at Cross Culture Church, 6440, Rock Springs Road, Lithonia, Georgia 30038, 770-482-2250. This event is FOR WOMEN ONLY (sorry guys) and I will be telling my story. Of course I will also share some tax strategies to help for the 2016 year. I am attaching the flyer. They are asking for a $10 donation to cover the refreshments but if people don’t have funds they won’t be turned away.
Stay alert and make sure that you are moving towards the corral door, or make sure you can jump the fence! SPJ