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Pot Plants or the terrorist's win!

Discussion in 'Indoor Marijuana Growing' started by MoW, Jun 4, 2003.

  1. Read in Newspaper today a county in California is allowing upto 99 Plants without any intrustions so they can concentrate on Meth labs and coke and heroin guys.
    I think it's a great Idea.

    If the US allows those that wish to grow pot to do so. It will shut down the illegal drug trade for this product and if they allowed taxing the $ can be used for important issues.

    If you grow pot an sell it you had better claim the imcome on your taxes!
    They don't care where the income comes from but you better declare the income. Also it will mean you will have to itemized your expenses to deduct the expenses realted to your business.

    The IRS is not allowed by law to share any information with any other agencies UNLESS court ordered in relationship to illegal activities that have been proved not investigations.

    If someone were to get caught with 100 planst growing and say $300,000 cash and a house andcars and planes and boats whatever.. and no income to show how they bought them it could be assumed it was derived from selling pot.
    If they beat the legal issue of the pot. They are going to find themselfs in deeper poop! Withthe IRS. They have no sense of humor. SO make sure you itemize under..other income!

    Now if you incorporate your operation your books are open to anyone who files a claim against you even in small claims court.
    Annual single source income below $1600 does not have to be reported.
    Income is selling something and getting something of value for it.
    Now if I grow my tomatos and sell them on the side of the road, I should report income generated from this. BUT! Do they...No... same as for topless dancers. They report:
    OH I made $1500 lasy night dancing..etc etc..
    I wonder what they report as income.
     
  2. you are a smart one Yoda!
     

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