Sunday, February 6, 2011

who will bear the cost?

66 years ago

a 14 year boy

filed an income tax

of $7 !

not just that,

he had deducted

the cost of his wrist watch

and bicycle

as

business expenses!!!

even this boy

knew

that in job

first you pay income tax

and then bear all the expenses

whereas

in self-employment

you deduct all expenses

from gross profit

and pay tax

on the leftover!

--

the boy?

warren buffet!

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