5 ms·
99% sure that's now how accounting works. A loss is when expenses are more than revenue, not when you earn less than you wanted to. Roofing and construction co
by missedthecue 3y ago
99% sure that's now how accounting works. A loss is when expenses are more than revenue, not when you earn less than you wanted to.
Roofing and construction contractors would be all over this if they could avoid taxes simply by negotiating down an invoice.
- deleted 3y ago[deleted]
- lupire 3y agoWhat happens when Microsoft "donates" $1B "worth" of its $0 cost copies of software to a school?
- m000 3y agoIf I interpret TFA coorectly, the 72k difference would probably be counted as "charity care". Which is different than a loss, but still tax deductible. In the grand scheme of things, this causes multi-level market "malfunctions". First, hospitals are incentivized to bloat bills, making healthcare virtually unaffordable if you don't have the bargaining power of an insurance company. Worse, this ties employees to their employer who subsidizes their healthcare plan (for another tax deduction I presume), thus twisting the dynamics of the labour market in favour of the employers.