GR33NL3AF
- 1,904
- 263
Ya I agree...
What if you get audited and the IRS would like to see receipts?
What if you get audited and the IRS would like to see receipts?
Grow for a living? What do you report for taxes?
K
kolah
- 4,829
- 263
Thanks for clearing that up for me.
Ohiofarmer
- 932
- 93
if you legit own a landscaping company with established clientel and have rental properties and are selling houses for their "market" value. none of that is a problem. and as long as taxes are being payed it's unlikely to be audited. Alot of the factors in this area of farming are based on the circumstances of what you're doing and how much is going in etc etc. as was previously stated many legit businesses are started with "seed" money haha.
Ohiofarmer
- 932
- 93
how would you suggest going about it or how do you go about it?
wobbly goblin
- 570
- 93
not a lawyer nor do i play one on the internet
was reading the gypsy in manilla thread, post #168
seems chem was putting profits into his construction business and they hammered him for it...
"On Aug. 2, 2011, local police used federal search warrants to search a third-floor apartment at 20 Florence Road and at the home at 23 Katelyn Way in Southampton where Krzanowski then lived. That came after several months of investigations that involved the Easthampton and Southampton police departments, the federal Drug Enforcement Administration, IRS Criminal Investigations, and the State Police Hampshire County Narcotics Unit.
Police seized about 97 marijuana plants, five pounds of marijuana packaged for distribution and the rifle at the apartment. They found another four pounds of marijuana at the home in Southampton. Easthampton police at the time said the total value of the items seized was approximately $150,000.
Krzanowski was initially charged by the state with cultivation of marijuana, possession with intent to distribute marijuana and possession of a firearm without an identification card. When the U.S. attorney’s office took over the case, it charged him instead with the four felonies for which he was sentenced for Monday — marijuana possession with intent to distribute and three counts of money laundering.
The money laundering charges resulted from three instances between August and December 2009 when Krzanowski deposited $16,000 in cash — which authorities say he obtained from sellingmarijuana — into a bank account in the name of East Coast Custom Homes in an attempt to disguise his drug business, according to court documents.
In addition to placing Krzanowski on probation for three years, during which time he must avoid narcotics and submit to random drug testing, the plea agreement required Krzanowski to pay $300,000 to the U.S. government, which he did on Nov. 15. According to the U.S. attorney’s office, that reflected the proceeds of his illegal business.
The deal also required him to pay a $400 fee to the federal court and a $5,000 fine. Hoose asked Ponsor to waive the $5,000 fine because of the “large amount of forfeiture” Krzanowski already paid, and Ponsor reduced it to $2,500.
Ponsor made a point of inquiring about Krzanowski’s sneaker collection, which court documents stated was valued at $10,000. Hoose said he still has the collection.
Hoose said the fine would mean additional hardship for his client, who may owe additional taxes to the IRS and is trying to pay off about $54,000 in debt. Hoose said Krzanowski is working as an independent home builder and for the home building company of his mother and stepfather, Patricia and James Boyle.
The plea agreement also stated that the U.S. attorney’s office would agree not to charge James or Patricia Boyle “based on conduct underlying the crimes charged in this case.” They are the owners of the third-floor apartment at 20 Florence Road where Krzanowski grew marijuana, according to state land records.
Rebecca Everett can be reached at [email protected]."
fwiw
was reading the gypsy in manilla thread, post #168
seems chem was putting profits into his construction business and they hammered him for it...
"On Aug. 2, 2011, local police used federal search warrants to search a third-floor apartment at 20 Florence Road and at the home at 23 Katelyn Way in Southampton where Krzanowski then lived. That came after several months of investigations that involved the Easthampton and Southampton police departments, the federal Drug Enforcement Administration, IRS Criminal Investigations, and the State Police Hampshire County Narcotics Unit.
Police seized about 97 marijuana plants, five pounds of marijuana packaged for distribution and the rifle at the apartment. They found another four pounds of marijuana at the home in Southampton. Easthampton police at the time said the total value of the items seized was approximately $150,000.
Krzanowski was initially charged by the state with cultivation of marijuana, possession with intent to distribute marijuana and possession of a firearm without an identification card. When the U.S. attorney’s office took over the case, it charged him instead with the four felonies for which he was sentenced for Monday — marijuana possession with intent to distribute and three counts of money laundering.
The money laundering charges resulted from three instances between August and December 2009 when Krzanowski deposited $16,000 in cash — which authorities say he obtained from sellingmarijuana — into a bank account in the name of East Coast Custom Homes in an attempt to disguise his drug business, according to court documents.
In addition to placing Krzanowski on probation for three years, during which time he must avoid narcotics and submit to random drug testing, the plea agreement required Krzanowski to pay $300,000 to the U.S. government, which he did on Nov. 15. According to the U.S. attorney’s office, that reflected the proceeds of his illegal business.
The deal also required him to pay a $400 fee to the federal court and a $5,000 fine. Hoose asked Ponsor to waive the $5,000 fine because of the “large amount of forfeiture” Krzanowski already paid, and Ponsor reduced it to $2,500.
Ponsor made a point of inquiring about Krzanowski’s sneaker collection, which court documents stated was valued at $10,000. Hoose said he still has the collection.
Hoose said the fine would mean additional hardship for his client, who may owe additional taxes to the IRS and is trying to pay off about $54,000 in debt. Hoose said Krzanowski is working as an independent home builder and for the home building company of his mother and stepfather, Patricia and James Boyle.
The plea agreement also stated that the U.S. attorney’s office would agree not to charge James or Patricia Boyle “based on conduct underlying the crimes charged in this case.” They are the owners of the third-floor apartment at 20 Florence Road where Krzanowski grew marijuana, according to state land records.
Rebecca Everett can be reached at [email protected]."
fwiw
Capulator
likes to smell trees.
Supporter
- 6,070
- 313
put it all under the mattress. LOL.
Latest posts
-
KUnderstanding NPK ratios in nutrients
- Kbdwc posted
-
Another clueless newbie!- LoveGrowingIt posted
-
New hydro system with GH nutes help with supplements and doses- Oldguy71 posted