1434
Did you pay your taxes? (sh.itjust.works)
submitted 6 months ago by thal3s@sh.itjust.works to c/whitepeopletwitter@sh.itjust.works
123 comments fedilink hide all child comments

Related: Robert Reich posted earlier today that Tesla paid ZERO taxes on $5 billion in sales (earnings?), so that’s just fucking great.

you are viewing a single comment's thread
view the rest of the comments
[-] Wiz@midwest.social 6 points 6 months ago

(I'm not a professional and this is not tax advice)

However, I have a home business pulling in a few thousand a year.

About business losses, I think you're partially right. The IRS has a tile that you need to show that you're trying to make a profit, despite losses. One of the ways they do that is showing a profit over the course of a few years. (Maybe 3 out of 5 years? My memory is foggy.) But if you don't seem like a business, then you are only allowed to deduct up to the amount that you earn.

But yeah, year one of a business, you can definitely take a loss. And why not? The IRS is short-staffed so fewer audits.

this post was submitted on 03 Feb 2026
1434 points (100.0% liked)

People Twitter

10288 readers
1019 users here now

People tweeting stuff. We allow tweets from anyone.

RULES:

  1. Mark NSFW content.
  2. No doxxing people.
  3. Must be a pic of the tweet or similar. No direct links to the tweet.
  4. No international politcs
  5. Be excellent to each other.
  6. Provide an archived link to the tweet (or similar) being shown if it's a major celebrity, figure or any politician. If you replace the "x" at their site with xcancel (so it beomes xcancel.com), and you're not on mobile, it will save video. https://web.archive.org/save is another great option. Archive.is is no longer recommended because they remove/alter content.
  7. If a tweet (or similar) makes a statement of fact, either mark it as "satire" in the body or provide the original source link backing up the statement

founded 3 years ago
MODERATORS
SendMeYourTaTas@sh.itjust.works
pelespirit@sh.itjust.works