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But that's the thing, if I take my entire salary and lose it gambling I still owe the government taxes. I the person am taxed on revenue. If instead I have a
by lesuorac 2y ago
But that's the thing, if I take my entire salary and lose it gambling I still owe the government taxes.
I the person am taxed on revenue.
If instead I have a corporation handle everything then I can come up with (relatively simple) systems so that I don't pay taxes and the corporation doesn't pay taxes either.
- linksnapzz 2y agoGambling isn't considered an investment. It's consumption.
- ribosometronome 2y agoYou asked: >How much in taxes should you pay on a loss?
- kjksf 2y agoIt was implied that the loss here was defined as difference between corporate revenues and expenses. This concept doesn't apply to personal income taxes and gambling losses.
- johnnyanmac 2y agoyes yes, different rules for the rich than the working class. That is true, but not just.
- scotty79 2y agoInvestment is a form of gambling.