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Old March 18th, 2013, 02:43 PM   #1
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Default I want to know the real story.

I have heard many different rumors as to why gas stations and party stores are always rotating new owners. I went to the local beer store here and noticed that the new crew are getting acclamated. I looked at the current owner and new that soon i would never see him again. So really, what happens when(Their Time is up). Id like to know the real story as this has always seemed much like a scam over the years.
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Old March 18th, 2013, 02:48 PM   #2
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I've noticed it with Chinese restaurants, too.
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Old March 18th, 2013, 02:53 PM   #3
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Tax breaks. They just give it or sell it to a family member.
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Old March 18th, 2013, 02:54 PM   #4
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Tax breaks. They just give it or sell it to a family member.
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Old March 18th, 2013, 02:55 PM   #5
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make money tax free for 7 years, sell profitable business at large gain to the next in line, let them make money tax free, sell profitable business to next in line......
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Old March 18th, 2013, 02:57 PM   #6
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I can think of two possible reasons:

Small businesses like these are often not nearly as profitable or as easy to run as many assume that they are going into it and the maybe the owners decide to sell them sooner than they originally planned in order to get rid of the headache.

Another reason - After a few years, you can sell the business to a family member and start the depreciation over again while possibly staying on in some other capacity.

It could also be that ownership is not really changing but the front-line staffing is. Turnover in those types of positions at retail and service establishments is much higher than in most other fields.
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Old March 18th, 2013, 02:59 PM   #7
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I have heard that they get a group and everyone pays in to bring someone in from overseas then they give him that money to get him started then become a citizen then have to sell it(turn it over to the next group in line) and pony up their amount to bring in the next new guy from overseas. I think there is more here than just a tax break.
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Old March 18th, 2013, 03:00 PM   #8
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My dad is friends with a guy that buys failing liquor stores, fixes them up a bit and gets them profitable again before selling the store and moving on to the next one.
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Old March 18th, 2013, 03:25 PM   #9
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7 years tax free, then sell it to another hadji...its a great cycle isnt it? as long as your hadji...
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Old March 18th, 2013, 03:47 PM   #10
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7 years tax free, then sell it to another hadji...its a great cycle isnt it? as long as your hadji...
I have seen this batted about forums and elsewhere many times over the years. It's just not true. There is no "7 years tax free" policy for new immigrants whether they are coming from Iraq, Saudi Arabia, Cambodia, India, Canada, Germany, etc.
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Old March 18th, 2013, 03:53 PM   #11
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I have seen this batted about forums and elsewhere many times over the years. It's just not true. There is no "7 years tax free" policy for new immigrants whether they are coming from Iraq, Saudi Arabia, Cambodia, India, Canada, Germany, etc.
Then why is there people coming from those places that get 7 or so years of no tax?
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Old March 18th, 2013, 03:57 PM   #12
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Then why is there people coming from those places that get 7 or so years of no tax?
Show us a link to a .gov page showing this tax break.
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Old March 18th, 2013, 07:42 PM   #13
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Then why is there people coming from those places that get 7 or so years of no tax?
No such thing. However, if you have a business where a fair portion of your income is in cash, and you choose to violate federal and state law by not reporting it all, then you have no tax for 7 years. But there is no federal or state program that gets you out of paying taxes for the first XX years you are in this country.

Coincidentally, the failure rate for start-up business is at or above 50% in the first 5 years, depending on which set of government statistics you use. So an alternate explanation is the fact that half of them never make any money, and there is no tax bill if you don't make any money.
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Old March 18th, 2013, 07:46 PM   #14
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You wanted to know the real story and you thought The Pub on gl4x4 was the best place to get it?
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Old March 18th, 2013, 08:22 PM   #15
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You wanted to know the real story and you thought The Pub on gl4x4 was the best place to get it?
I would believe Paul when it comes to taxes...
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Old March 18th, 2013, 08:42 PM   #16
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I once robbed a gas station that some india folks ran, $1500 cash and several misc checks, and like 100 scratch off lottery tickets, found out they never reported anything stolen, just reported front door window was broke/vandlised. Always wondered about that. Heard rumors they sold guns and shit, so maybe they use store as a front and keep the rotation going for good measure.
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Old March 18th, 2013, 08:58 PM   #17
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I once robbed a gas station that some india folks ran, $1500 cash and several misc checks, and like 100 scratch off lottery tickets, found out they never reported anything stolen, just reported front door window was broke/vandlised. Always wondered about that. Heard rumors they sold guns and shit, so maybe they use store as a front and keep the rotation going for good measure.
Really?
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Old March 18th, 2013, 09:22 PM   #18
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Really?
Yeah
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Old March 19th, 2013, 06:06 AM   #19
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I wonder how many of them are here illegally, its rumoured that the owner of the a gas station and two c-stores in my town is here illegally.
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Old March 19th, 2013, 06:33 AM   #20
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People still think there is a 7 year tax free exemption for party store owners?



I can answer your question about the gas station turn over rate. It's because unless you own the refinery and the fuel trucks, there isn't much money to be made in running a gas station unless you have a high end convenience store. That is why there are so few independent stores left. Mobil gas stations and shell gas stations still have a few independent owners, but BP, Valero, Marathon, Speedway, etc are all corporate owned and operated.
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