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Yes, sole proprietor, all revenue reported as personal income ... hence I consider it income. It would be profit if I was organized as an LLC that agreed to pa
by PaulDavisThe1st 3y ago
Yes, sole proprietor, all revenue reported as personal income ... hence I consider it income.
It would be profit if I was organized as an LLC that agreed to pay me $X/year and took in $(X+Y) in revenue.
- hcks 3y agoLike what’s your point really
- SenHeng 3y agoBikeshedding the meaning of profit.
- PaulDavisThe1st 3y agoPerhaps you think it is trivial. I don't. Open source has the potential to bring lots of benefits to society, but if coupled to a particular conception of what "profit" is and the way in which companies "doing" open source should relate to it, I believe that a lot of those benefits will be squandered.
- mdavidn 3y agoHuh? “Profit” is not ambiguous, even in your business. It’s a value you calculate each year on Schedule C.
- aatd86 3y agoPositive income is profit. Negative income is loss. I'd rather profit. :p
- Ir0nMan 3y agoThe Net Income you report on your Schedule C is your businesses profit whether you like to think of it that way or not. The opposite of this would be a loss where your business generates negative Net Income.