3 ms·

tl;dr: Troy went into the rabbit hole of buying a bunch of high-cost gadgets and accessories [that he legitimately needed] to get tax deductions.

psds2 6y ago
And due to changes in the home office deduction in 2018 most people can't even do the same for themselves.
- dylan604 6y ago
  I'm kind of surprised that congress critters are not focusing on home office deductions as part of the incentives. The $1200 is an advance (not free money), but an actual deduction would be useful come around next year.
  - sjwright 6y ago
    Deductions are a tax break for people who have time or resources to strategise their interactions with the tax system.
    - dylan604 6y ago
      Not sure your point, but if you're attempting to say that deductions only work for people that don't file 1040ez, then yeah, you're right. Surely, you have more of a point than that though, yeah? Hiring a CPA or even just an accountant to do your taxes can be more expensive, but it has never failed to yield a large enough reason to not incur that expense, for me.
      - sjwright 6y ago
        Your response proves my point. As you are someone who knows that that an accountant saves you enough in taxes to justify the expense, you are a person who has time or resources to strategise their interactions with the tax system. Many people don't have the luxury of strategising any of their interactions with the tax system. Either because their situation isn't covered by any deductions, or because they don't posses the knowledge, or because they don't possess sufficient free time to investigate.
hornetblack 6y ago
Last I checked max you can claim for purchasing home office equipment in Australia is $300. Although he claim the decline in value every year. Which would probably get you $300 again. https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Tools,-equipment-and-other-assets/ https://www.ato.gov.au/Individuals/Income-and-deductions/Ded...
- prawn 6y ago
  Could instant asset write-offs apply?
- jonny383 6y ago
  If he is running haveibeenpwned, he is probably purchasing through a company with instant asset write-off.

psds2 6y ago

And due to changes in the home office deduction in 2018 most people can't even do the same for themselves.

dylan604 6y ago
I'm kind of surprised that congress critters are not focusing on home office deductions as part of the incentives. The $1200 is an advance (not free money), but an actual deduction would be useful come around next year.
- sjwright 6y ago
  Deductions are a tax break for people who have time or resources to strategise their interactions with the tax system.
  - dylan604 6y ago
    Not sure your point, but if you're attempting to say that deductions only work for people that don't file 1040ez, then yeah, you're right. Surely, you have more of a point than that though, yeah? Hiring a CPA or even just an accountant to do your taxes can be more expensive, but it has never failed to yield a large enough reason to not incur that expense, for me.
    - sjwright 6y ago
      Your response proves my point. As you are someone who knows that that an accountant saves you enough in taxes to justify the expense, you are a person who has time or resources to strategise their interactions with the tax system. Many people don't have the luxury of strategising any of their interactions with the tax system. Either because their situation isn't covered by any deductions, or because they don't posses the knowledge, or because they don't possess sufficient free time to investigate.

hornetblack 6y ago

Last I checked max you can claim for purchasing home office equipment in Australia is $300. Although he claim the decline in value every year. Which would probably get you $300 again. https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Tools,-equipment-and-other-assets/ https://www.ato.gov.au/Individuals/Income-and-deductions/Ded...

prawn 6y ago
Could instant asset write-offs apply?
jonny383 6y ago
If he is running haveibeenpwned, he is probably purchasing through a company with instant asset write-off.