a question for tom, or anyone who knows the anwser.

**shartley** · 09-26-2002, 05:13 PM

**Army** · 09-26-2002, 05:29 PM

Well, yes AND no.

If you are the sole owner, then you are the owner of all in your store. You bought it wholesale to sell retail, but you bought it just the same and it's yours.

Now, if you are the head of a corporate, this means that there will be shareholders, partners, sometimes other attached corporations, and other liabilities. This means that YOU did not buy anything, the corporate did. As such, it belongs to whomever holds a share of the properties.

So no, William Ford cannot simply go down to the showroom and drive away with a new 'Stang. However, if you are the only owner of a Ford car lot, YOU can drive off with one, since you already bought it!

BUT!!!!That means you are out of a lot of change, since you didn't sell it and make up what YOU spent for it in the first place!

**shartley** · 09-26-2002, 05:40 PM

**FactsOfLife** · 09-26-2002, 06:04 PM

In my business, building telescopes, I had to pay for the materials to build my personal scope.

However, I also use that scope for demonstration purposes, sales shows, public star parties, and the like.

Out of that, I was able to write off a significant amount of the cost of it to my business.

The benefit of it is, I get the scope I've wanted all my life, and I get to have a business I love.

**obsolete898** · 09-26-2002, 06:36 PM

If your the head of a incorperated buisness and you take money/products isn't that embezzaling.

Small buisness owners can do that alot more easily than big buisness CEO's. That's because in a small incorperated buisness the pres. is usually the main if not only stock holder.

**flatacid** · 09-26-2002, 07:41 PM

ok. well explained guys. thanks.

a question for tom, or anyone who knows the anwser.

a question for tom, or anyone who knows the anwser.

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