In a fantasy world if you were president and could pass a law to write off strip

In the fantasy world, I met customers could write off all expenses, that is cover charge, beer, dances, etc.

Actually, I would give tax breaks to strip club owners, with the highest breaks to those who own the largest clubs and hire the most staff (bartenders, waitresses, strippers, etc.). For small club owners, the breaks would come in the form of business tax, but for the large owners, they would encouraged to report all of their income if they had proof of comprehensive security (parking lot, lobby, main floor-panic buttons for strippers), kept the premises kept up, and had state of the art fire detection and protection systems.

Hey, I thought we already had that....Oh, wait! It is only for members of Congress~!

Maybe TUSCL could have a "diary" feature where you could keep track of your SC spending, and then at the end of the year TUSCL would send the IRS a Form 1069 to support your deduction.

In case you spent more than you made some year, you could carry back the unused deduction.

You can already write off strip club expenses if they are incurred for legitimate business purposes. For example, if you entertain business clients at a strip club, the costs (cover, parking, drinks, food) can be reported as business expenses. Lap dances should also be deductible, at least those you buy for a client.

If you worry that your reduction in taxes will hurt the government, remember that the strip clubs will have to pay taxes. And of course strippers will report all their lap dance income to the IRS.

I tried something similar in Canada, not SC expenditures but hostess and 'hospitality' room expenses during the big industry trade show one year in Calgary. CCRA (Canada's IRS) said 'NO' and it was a most emphatic 'NO', complete with a nasty penalty. Learned my lesson and never tried it again. I was also an idiot otherwise - never sampled the delights of my own 'hospitality' room for myself!

Taking it a step further I would like to see us legalize prostitution. The tax revenue combined with the savings we would incur from the reduced enforcement and prosecution effort could lift many local a d state governments and perhaps solve some budget problems. We'd all be happier too.

No, I'd try to pass legislation that cut spending, eliminated deductions and lowered the tax rates.

jack,

No business, including a SC pays taxes. We, the customer, always pay them.

Shit, they are looking at eliminating mortgage deductions. This isn't the 70's anymore. This is Amerika these days.

Question from Canada. What is the rationale behind the tax deductibility of residential mortgage interest? It does not exist in Canada. I do not know how the US constitution can permit this egregious discrimination against a specific group of people i.e. renters.

Such outrageous discrimination in tax law would cause an uproar here in Canada.

Art- The US Constitution was written and finally ratified in 1789. It remained relatively unchanged until the early 1930's. Franklin Roosevelt became President a couple of years after the Great Depression started. Roosevelt told the public, and the Congress, elect me and I'll fix everything."

Right after he was elected, Roosevelt went about creating a gigantic bureauacracy, creating tax laws and taxes. Before his term, the US President was little more than a figurehead. Now, the President has so many powers that he has to be watched carefully. Case in point-Obama was caught on tape recently talking to some of his followers. He told them that he was tempted to use the 14th Amendment to nullify Congress (and become a benevolent dictator).

With all that said-home owners are given a tax break that renters aren't, with the point being that everyone should be a homeowner. To that end, President Clinton had the Fair Housing Act passed, which created easy credit for people wanting to be home owners. That act set forth a chain of events that created the economic mess that we are in today.

No deductions. no credits. Two, maybe three rates for progressivity. And everyone, I mean everyone, pays at least $25 annually. No more of this BS where 50% of filers pay no tax or, worse yet, get so-called "refunds" for taxes they never paid.

In 2012 I will have to take the standard deduction. I no longer have have enough write offs. How can a guy qualify as "head of household" for a strip club?

Crystal, Star, Diamond, and Lexxxy will have to be your dependents.

art - the morgage deduction is 'sold' as a way to encourage home ownership in the USA. But most of the people who EARN enough to have to pay income taxes (barley more than 50% in this fricking welfair state) don't itemize or they don't have a home valuable enough for this deduction to significantly reduce taxes owed. So, in reality it's a give away to obsenely rich people with obsenely expensive mansions. It's not discrimination against renters. It's discrimination against all US citizen who are uber wealthy or part of the elite ruling class.

imnumntz - another good point: how can someone get a tax refund when they never paid any taxes in the first place. The king is just buying votes from the poor.

oops... typo!!!

It's discrimination against all US citizen who ARN'T uber wealthy or part of the elite ruling class.

grr. AREN'T!

We have too many taxes. I read today Roosevelt admired socialism and some of his programs he enacted increased unemployment and prolonged the Great Depression. History does repeat.
I might actually support eliminating the income tax and replace it with a national sales tax if I believed the government would replace one with the other. I don't trust them though so I will not support that. I can imagine all the complaints in the strip club from dancers saying their money isn't going as far as it used to if that happened.

To answer the original question... No. Sorry, but no loop hole for anything. It would be abused.

Everyone currently in DC admires one thing: absolute power. That gets in the way of those pesky things like freedom and democracy.

creating more loopholes