Big Rogues Gallery Update!

Bull. You're bringing in enough to provide for the care and feeding of a wife,
two kids, a hangared Pathfinder, five cars, a Gold Wing, a house, and a hotel.
And you talk about buying a place with enough land for your own airport.

I'll bet you a gallon of avgas that you and your wife had more
after-tax income last year than Mary and I did. After expenses, last
year we made less *together* than I used to make in just three months
in our previous business.

However, there's more to life than money. And we're not done with the
place yet -- not by a long shot.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

Jay Honeck wrote:

I'll bet you a gallon of avgas that you and your wife had more
after-tax income last year than Mary and I did.

Jay, you spent more on that Pathfinder last year than my entire net income.

And that's not the issue. I don't really care waht you make. It's just that your
occasional poor mouthing is irritating.

George Patterson
Drink is the curse of the land. It makes you quarrel with your neighbor.
It makes you shoot at your landlord. And it makes you miss him.

I'll bet you a gallon of avgas...

If you can afford a gallon of avgas these days, you are wealthy beyond
imagining.

Jose
--
He who laughs, lasts.
for Email, make the obvious change in the address.

Jay Honeck wrote:

Bull. You're bringing in enough to provide for the care and feeding of a wife,
two kids, a hangared Pathfinder, five cars, a Gold Wing, a house, and a hotel.
And you talk about buying a place with enough land for your own airport.


I'll bet you a gallon of avgas that you and your wife had more
after-tax income last year than Mary and I did. After expenses, last
year we made less *together* than I used to make in just three months
in our previous business.

However, there's more to life than money. And we're not done with the
place yet -- not by a long shot.

I assume you are talking income from the income statement perspective.
How much did your property increase in value last year? As a sole
proprietor, you have to include you balance sheet as well. :-)
Changes in owner's equity is an important source of "income" as well.


Matt

"Matt Whiting" wrote

I assume you are talking income from the income statement perspective.
How much did your property increase in value last year? As a sole
proprietor, you have to include you balance sheet as well. :-)
Changes in owner's equity is an important source of "income" as well.

While this is certainly true from an accounting standpoint, it is not income
that can be put in a gas tank, and burned! g
--
Jim in NC

Morgans wrote:

"Matt Whiting" wrote


I assume you are talking income from the income statement perspective.
How much did your property increase in value last year? As a sole
proprietor, you have to include you balance sheet as well. :-)
Changes in owner's equity is an important source of "income" as well.


While this is certainly true from an accounting standpoint, it is not income
that can be put in a gas tank, and burned! g

Not in the year in which it was earned, but when you sell the capital
asset, the income is very real. :-)

Matt

Not in the year in which it was earned, but when you sell the capital
asset, the income is very real. :-)

And it's very transitory.

A new Comfort Suites goes up across the street, and *poof*! -- it all goes
away...
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

Jay Honeck wrote:
Not in the year in which it was earned, but when you sell the capital
asset, the income is very real. :-)


And it's very transitory.

A new Comfort Suites goes up across the street, and *poof*! -- it all goes
away...

Who told you about my plans? :-)

Matt

A new Comfort Suites goes up across the street, and *poof*! -- it all
goes away...

Who told you about my plans? :-)

Actually, I'll partner with you. It would be very cool to start from
scratch with a new facility...

:-)
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

While this is certainly true from an accounting standpoint, it is not income
that can be put in a gas tank, and burned!

Yes it is. Eventually.

Jose
--
He who laughs, lasts.
for Email, make the obvious change in the address.