751
Totally reasonable (discuss.online)
you are viewing a single comment's thread
view the rest of the comments
[-] Kazumara@discuss.tchncs.de 15 points 11 hours ago* (last edited 11 hours ago)

I don't know about you guys and your local tax laws, but I can deduct the costs of earning my income from my taxable income.

Transportation to the job, further education for the job, (if I had any) the costs of having my kids looked after while I work, that sort of thing.

Fundamentally very similar to how the business deducts operating cost from revenue, before paying taxes on profit.

[-] DahGangalang@infosec.pub 14 points 11 hours ago

the costs of having my kids looked after while I work

Uh, this sounds like a "not in America" thing. Can you confirm that and/or link to the rules that let you deduct childcare expenses?

Ive got family members who would love to hear about that if it is a thing.

[-] WhiteOakBayou@lemmy.world 8 points 10 hours ago* (last edited 10 hours ago)

He's on a German server but I'm in the US you can deduct some childcare expenses. I use the Child and Dependent Care Credit

[-] Dnb@lemmy.dbzer0.com 12 points 10 hours ago* (last edited 9 hours ago)

It's very little. You can easily pay thousands out of pocket for child care to get a fraction of it removed from taxes / "back"

[-] WhiteOakBayou@lemmy.world 7 points 10 hours ago

It is very little and qualified. The place one of my younger kids go qualifies but not where one of the older one's is.

[-] DahGangalang@infosec.pub 3 points 10 hours ago

Good catch on the German server bit. Def escaped my notice.

[-] fizzle@quokk.au 3 points 9 hours ago

This is the case in most jurisdictions but the line between expenses that are incurred in the course of earning your income and those which are not will vary to some extent.

For example, the cost of driving to and from work is generally not deductable, but if you need to travel to some third location then that is generally deductable.

It doesn't really matter exactly where the line between deductable and non-deductable is, because the same rules are applied to everyone in the jurisdiction. For example, if you decide that everyone can claim the cost of driving to work, then the tax rates need to be higher to ensure sufficient tax revenue for the government.

That said, you're correct that the difference between a corporation and a person is the extent to which their activities are income producing. Everything a company does is in the pursuit of profit, so all expenses are deductable against income. In fact tax law prohibits company's spending money for other purposes.

[-] qaeta@lemmy.ca 2 points 8 hours ago

I'd argue the necessary upkeep to remain alive and functional as an employee should be included as a cost of earning your income. Where I am you definitely can't deduct housing, food or transportation costs. Limited deductions for child related stuff.

[-] bountygiver@lemmy.ml 1 points 9 hours ago

Hmm... Sounds like we should do some tax magic to file our cost of living as operating expense in some way, we can't earn those income if we are not alive after all.

this post was submitted on 06 Jun 2026
751 points (100.0% liked)

Political Memes

11925 readers
2299 users here now

Welcome to politcal memes!

These are our rules:

1) Be civilJokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.

2) No misinformationDon’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.

3) Posts should be memesRandom pictures do not qualify as memes. Relevance to politics is required.

4) No bots, spam or self-promotionFollow instance rules, ask for your bot to be allowed on this community.

5) No AI generated content.Content posted must not be created by AI with the intent to mimic the style of existing images

founded 3 years ago
MODERATORS