Forums: Skydiving: General Skydiving Discussions:
starting a dz

 


2shay  (D 1)

Jan 17, 2007, 9:53 PM
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few people have told me that some companies need things for huge tax write offs dzs run this way in some places basically fly cargo all week and what they operate on the weekend doesnt have to be a financial gain at all, wondering if anyone else had any ideas on who and what type of businesses would be looking for huge write offs.

thanks


Unstable  (D 28930)

Jan 17, 2007, 10:06 PM
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  In our city, some 10 years ago the Commission started something called the Economic development fund, basically to draw new business into town - you go before the board and tell them you want to start a skydiving school and will bring in x-amount of tax $, and you get a pretty handsome write-off.

But you see, in the real world things are a bit different. So far all the companies that have bit at this EDF have been politic'ed in here, and most of these companies need to hire x-amount of local labor anyway.

In my mind, I'm always thinking of ways to start a DZ - and so far the best thing I can think of is to go to some suburb of a larger City (say KC) and try to weasel your way into the hearts of the airport board or a city commission -


Zing  (D 6343)

Jan 17, 2007, 10:13 PM
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The DZs I knew about that "basically fly cargo all week" got put out of business by the radar blimps and the tunnels now in place underneath the border.
There was a day when a good jump plane could outrun the slower DEA and DPS aircraft, but things changed.


2shay  (D 1)

Jan 17, 2007, 10:35 PM
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what does that mean sorry i dont understand


damion75  (D 102144)

Jan 18, 2007, 1:17 AM
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In reply to:
The DZs I knew about that "basically fly cargo all week" got put out of business by the radar blimps and the tunnels now in place underneath the border.
There was a day when a good jump plane could outrun the slower DEA and DPS aircraft, but things changed.

LaughLaughLaugh

Sounds like you have been watching 'Cutaway' too much! Cool


2shay  (D 1)

Jan 18, 2007, 1:28 AM
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Re: [damion75] starting a dz [In reply to] Can't Post

never seen it


mktoson  (A 37559)

Jan 18, 2007, 4:52 AM
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LaughLaughLaugh


vpozzoli  (Student)

Jan 18, 2007, 7:40 AM
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In reply to:
what does that mean sorry i dont understand
He's referring to running drugs across the border.
I'm not sure that he's not at least half serious...

Smile

Vale


frynsky  (D 10017)

Jan 18, 2007, 7:56 AM
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Florida, late 70's, early 80's. DC-3's were the jumpship of choice. First jump of the weekend, before the plane had a chance to air out, let's just say it had a certain odor instantly recognizable to most people of that era. I'm not saying what it was, but everyone had the "munchies" after the load... "and that's all I have to say about thaat"


2shay  (D 1)

Jan 18, 2007, 1:23 PM
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i see i know everyone knows that im talking of an honest cargo route though if anyone has anyhting to share about the original subject i would appreciate it


CSpenceFLY  (D 25252)

Jan 18, 2007, 2:22 PM
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In reply to:
In our city, some 10 years ago the Commission started something called the Economic development fund, basically to draw new business into town - you go before the board and tell them you want to start a skydiving school and will bring in x-amount of tax $, and you get a pretty handsome write-off.

But you see, in the real world things are a bit different. So far all the companies that have bit at this EDF have been politic'ed in here, and most of these companies need to hire x-amount of local labor anyway.

In my mind, I'm always thinking of ways to start a DZ - and so far the best thing I can think of is to go to some suburb of a larger City (say KC) and try to weasel your way into the hearts of the airport board or a city commission -

Now that is some funny shit.Laugh


Mr17Hz  (A 47290)

Jan 21, 2007, 6:12 PM
Post #12 of 13 (577 views)
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In reply to:
few people have told me that some companies need things for huge tax write offs dzs run this way in some places basically fly cargo all week and what they operate on the weekend doesnt have to be a financial gain at all, wondering if anyone else had any ideas on who and what type of businesses would be looking for huge write offs.

thanks

Are you an accountant or do you know a good amount about business accounting? I often hear about this magic “Business write off”, but it always seems to be by the same kind of people that tell me about how big brother is listening in on my phone calls.

I have been involved in consulting for large businesses for some time now; admittedly I do not work directly with accounting and finances – but instead streamlining business processes, identifying new forms of revenue, and finding ways to spend less money to accomplish the same services or produce the same product without sacrificing quality… I’ve worked with 1-2 people < $100,000 businesses, and I’ve worked with $50,000,000 public and private corporations…

I’ve never heard of a company going out and looking for money to spend on something as a business write off; quite frankly – it sounds like a ridiculous idea; because it’s taking away from profits – and taking away from profits means bringing less money home.

Write off’s benefit a company in two ways:

1) They allow businesses to not pay income taxes on expenses that were necessary to make the income in the first place… This will put businesses looking for items to write off – but it’s either looking at items they’ve already spent money on – or identifying that by spending the same amount of money in a different way to accomplish the same thing, a higher percentage of money spent can be written off…
2) Second; while there is a fine line on how much of this is legal and how much isn’t – which I will leave to a CPA to answer – a write off could be used to purchase something that would otherwise be purchased as a personal expense – getting the same end result without having had to pay taxes on it… An example: (I’m not sure if this is real or not). Bill Gates builds the most technologically advanced house in the world, a house that has breakfast ready for you, allows your music and light settings to follow you around the house, and other computer controlled features… Bill Gates *may* be able to write off the house if he uses it as a research expense to determine if it would be feasible to build houses like this for others developing a new profit base… If done right, his house may be able to be used as a write off – meaning it costs him 700 million dollars instead of 1 billion… Although technically his company owns the house, and not him.. The fact that he lives in it? Well it would be wasteful to have it go unused.

I don’t see how starting a dropzone at a new airport would be of financial benefit to any company unless that company felt that the dropzone would turn into a profitable venture… Certainly not for tax write off purposes;

Maybe I’m wrong - but actually looked for that checkbox titled “Please don’t charge me taxes on this income because I want to open up a dropzone for me and my friends to jump at” on my tax forms this year; I wasn’t able to find it… Maybe I’m using the wrong forms?

This whole subject falls into that “magic government business grants” category… I’ve got friend that keep telling me about this magical free money that the government is going to give them (or me if I would just submit my business plans) to start a business; without putting any money down!

Sorry guys, while allowing yourself to be entertained by magic tricks is always quite entertaining; in the end it’s all just smoke and mirrors.


2shay  (D 1)

Jan 21, 2007, 9:34 PM
Post #13 of 13 (542 views)
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Re: [Mr17Hz] starting a dz [In reply to] Can't Post

well it has happened before i will just have to ask the source thanks for your input



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