Inflation news - going backwards with a boom

[willrocks]

As you were not there and as mentioned the client whispered and believe me it was nudge nudge wink wink..... I'll give you the benifit of the doubt for questioning.

A number of years ago I negotiated buying a competing business of which 40% of the income was undeclared. As I explained to the seller I would only pay for what was declared as I had no proof to base my purchase price on what he claimed.

In the end he sold me the business for the declared income as he reasoned he had made and collected 40% profit without tax and his capital gain tax was lower. Much to our surprise the real income was about 60% above what we paid for it in the first year and as we were declaring the entire amount and issuing receipts, plus the mates rates he was charging went by the way.

Kind Regards
non recourse

They want to pay in cash, unless they specifically asked you to do something dishonest, what is stopping you from taking cash, recording it in your books, and doing the 'honest' thing?

I've had people pay me in cash numerous times, I always accept. It is then my decision what I do with that cash.

On the other hand if they specifically state something to the effect of "I'll pay you cash if you can knock off the GST", that may be a different scenario.

I went to buy a business with my brother. It was almost entirely cash-in-hand, and the owners didn't keep very good records. The business was turning over nearly double what he stated, and we only paid a fraction of his asking price, slightly above the replacement cost of the equipment.

 

[renovator]

& still scoffing at it now .. I will say the same thing for those who might not have been around then .....MAKE MORE MONEY !!!!

Theres millions of people that survive & thrive in todays economy so it cant be too bad or as impossible as you make it out to be . Theres two distinct types of people in the world some just do what it takes others that dont /cant /wont.

is that your definition of life? just to survive and get by. Sure anyone can get an extra job and earn more money, but at what cost? its all good and fine when your young and single, but what when you have a family?

Sure the farther can do overtime and the mother can get a job too, but then their child will grow up in daycare center and not experience the warmth and love of being raise by their own parents.
I was lucky to have had my mum always home to look after me and my brothers when we were young. Nothing beats the feeling of coming home from school, to smell your mums cooking and have her bring you a drink or if lucky an ice cream This is something i want to be able to do with my children too. I would hate for them to come home to a empty cold house due me and my wife having to work. Sadly i see this way to often today with many family's.

So i can relate to people that just want to have a simple life, but due to inflation its becoming harder and harder. Whereas it was more simple to achieve back in our parents day, coz everything they needed was cheap and everything they didn't need was expensive. Now its the other way around.

My definition of life is have fun . No money no fun . I wasnt a needy kid i could go to the fridge & get my own drink if i was thirsty.My parents were there when i needed them . I think lifes a balancing act & those who get it right can have the best of both worlds .

I think your post highlights something i feel is very important . The need to bring your kids up to be independent something i think SOME parents dont do .

 

[leo25]

I think your post highlights something i feel is very important . The need to bring your kids up to be independent something i think SOME parents dont do .

How can they do that when most parents today don't raise their children?

I wasnt a needy kid i could go to the fridge & get my own drink if i was thirsty.My parents were there when i needed them.

Its got nothing to do with being needy, you completely misunderstood the meaning. its sad that you couldn't understand what i meant by it.

 

[mmm....shiney!]

Re: debt

It's a fair point actually, but it's probably important to note that now or back then, it was pretty much the same ideology.

Case in point :

http://forums.silverstackers.com/uploads/2595_the-way-to-grow-poor-the-way-to-grow-rich.jpg

Circa 1870/1880

Notice the similarities to today?

Yes I do notice the similarities and I do remember you posting this a number of times. I'm sure the stock market types here wouldn't agree with it, and I'm sure there's others that would find it offensive, however the right hand side of that poster always reminded me of the protestant work ethic, if you get my drift, an ethic to which I know you would be morally opposed. As am I.

However, the money lender has had a bad rap over the millenia, but you take the good with the bad I guess. Hypothetically, what would you do if you were possessed with talent, yet short on shekels? Wouldn't it be morally right to borrow in order to make the most of your skills, giving yourself and your family the opportunity to be blessed with abundance?

The entire philosiphy of Silver Stackers was to promote an ideology and understanding of how the system is rigged against us and how to protect yourself from it, not how to use that inside knowledge to perpetrate that exploitive aspect of the system and exploit others.

SS used to stand for something more than that, else we're honestly no better than the people we despise in power.

That may be your view on why we are a part of this online community, but it's evidently not shared by all. Do not judge others based upon the same criteria you judge yourself, or else you'll be sorely disappointed on many occasions.

 

[hiho]

whats wrong with cash? In a world where we are taxed on a myth I've already coughed up enough to accept a cash payment here and there.

 

[renovator]

I think your post highlights something i feel is very important . The need to bring your kids up to be independent something i think SOME parents dont do .

How can they do that when most parents today don't raise their children?

I wasnt a needy kid i could go to the fridge & get my own drink if i was thirsty.My parents were there when i needed them.

Its got nothing to do with being needy, you completely misunderstood the meaning. its sad that you couldn't understand what i meant by it.

i know what you meant ....the comfort thing which i think breeds needy kids . A few hours a day with other people helps kids adjust to others so i dont see any harm in going to a friends place after school for a few hours until the parents get home ..As for day care most kids wont even remember it when theyre older so no harm done

 

[renovator]

whats wrong with cash? In a world where we are taxed on a myth I've already coughed up enough to accept a cash payment here and there.

Here here .......

 

[mmm....shiney!]

whats wrong with cash? In a world where we are taxed on a myth I've already coughed up enough to accept a cash payment here and there.

Except that it reduces your ability to borrow.

 

[willrocks]

whats wrong with cash? In a world where we are taxed on a myth I've already coughed up enough to accept a cash payment here and there.

Except that it reduces your ability to borrow.

And that's a bad thing? Isn't borrowing how the world got into such a mess?

 

[mmm....shiney!]

whats wrong with cash? In a world where we are taxed on a myth I've already coughed up enough to accept a cash payment here and there.

Except that it reduces your ability to borrow.

And that's a bad thing? Isn't borrowing how the world got into such a mess?

Tell me willrocks, how is it possible for a business to expand if you don't borrow?

 

[leo25]

i know what you meant ....the comfort thing which i think breeds needy kids . A few hours a day with other people helps kids adjust to others so i dont see any harm in going to a friends place after school for a few hours until the parents get home ..As for day care most kids wont even remember it when theyre older so no harm done

m8 you have no clue what I'm talking about and it show strong in your words. how can you understand something you clearly never experienced.

As for producing needy kid, ill say no more then someone that didn't have that upbringing and are now needy by relying on the governments dole money. Most ethnic kids had this upbringing and they are some of the hardest workers of all. Its sad you think a strong family bond is a bad thing.

 

[renovator]

Except that it reduces your ability to borrow.

And that's a bad thing? Isn't borrowing how the world got into such a mess?

Tell me willrocks, how is it possible for a business to expand if you don't borrow?

ask your rich parents ? : oh thats right theyre not rich or think its a hairbrained scheme anyway . ........off to the bank with the relevant paperwork & give it a shot .

Willrocks debt isnt a bad thing if properly managed Regardless of your or auspms ideoligy its a neccessary evil to keep the big wheel turning .There just isnt enough cash in peoples hands to do the job.

 

[leo25]

Except that it reduces your ability to borrow.

And that's a bad thing? Isn't borrowing how the world got into such a mess?

Tell me willrocks, how is it possible for a business to expand if you don't borrow?

Savings?

 

[renovator]

i know what you meant ....the comfort thing which i think breeds needy kids . A few hours a day with other people helps kids adjust to others so i dont see any harm in going to a friends place after school for a few hours until the parents get home ..As for day care most kids wont even remember it when theyre older so no harm done

m8 you have no clue what I'm talking about and it show strong in your words. how can you understand something you clearly never experienced.

As for producing needy kid, ill say no more then someone that didn't have that upbringing and are now needy by relying on the governments dole money. Most ethnic kids had this upbringing and they are some of the hardest workers of all. Its a sad you think a strong family bond is a bad thing.

Thats where your wrong i understand exactly what your talking about . I grew up in the far outer western suburbs of sydney where ethnics were the majority & most of my friends were ethnics of some sort & i can tell you that i had both worlds at different times times when there was someone home & other times when they had to work so my opinion is based on experience .
Can i ask why you think if your mum is home to spoon feed you an icecream in the arvo it creates a stronger family bond than if she got home 2 hours later?
I think a strong family bond is a great thing & know that it has a lot more to it than being home when you get home from school .

 

[mmm....shiney!]

And that's a bad thing? Isn't borrowing how the world got into such a mess?

Tell me willrocks, how is it possible for a business to expand if you don't borrow?

Savings?

bwahahahahahaha

 

[bordsilver]

And that's a bad thing? Isn't borrowing how the world got into such a mess?

Tell me willrocks, how is it possible for a business to expand if you don't borrow?

Savings?

+1. It's not rocket science. Just like your first car or whatever you simply save cashflow from the business. If you don't have enough cash to take advantage of a burning opportunity, sell equity to someone who does. If you want to dilute but maintain control have voting and non-voting shares and so on and so forth.

 

[renovator]

Tell me willrocks, how is it possible for a business to expand if you don't borrow?

Savings?

bwahahahahahaha

.................................................................... :lol:

 

[mmm....shiney!]

Tell me willrocks, how is it possible for a business to expand if you don't borrow?

Savings?

+1. It's not rocket science. Just like your first car or whatever you simply save cashflow from the business. If you don't have enough cash to take advantage of a burning opportunity, sell equity to someone who does. If you want to dilute but maintain control have voting and non-voting shares and so on and so forth.

bwahahahahaha

 

[bordsilver]

The entire philosiphy of Silver Stackers was to promote an ideology and understanding of how the system is rigged against us and how to protect yourself from it, not how to use that inside knowledge to perpetrate that exploitive aspect of the system and exploit others.

SS used to stand for something more than that, else we're honestly no better than the people we despise in power.

+1

See http://forums.silverstackers.com/topic-32236-civil-liberties-rest-upon-sound-money.html

 

[renovator]

Tell me willrocks, how is it possible for a business to expand if you don't borrow?

Savings?

+1. It's not rocket science. Just like your first car or whatever you simply save cashflow from the business. If you don't have enough cash to take advantage of a burning opportunity, sell equity to someone who does. If you want to dilute but maintain control have voting and non-voting shares and so on and so forth.

Oh sell out to someone so you only get half the profit of something you built up with your own blood sweat & tears . voting & non voting shares ? what ? so your still expanding your business to give the profits to others Defeats the purpose dont you think ? you might aswell carry on the way you are .