4 ms·
If the expense is tax deductable, it mostly doesn't matter whether you have $10 earnings vs $10 business expenses or $10K.
by tstenner 5mo ago
If the expense is tax deductable, it mostly doesn't matter whether you have $10 earnings vs $10 business expenses or $10K.
- deleted 5mo ago[deleted]
- thih9 5mo agoGood luck explaining that to the IRS.
- gamblor956 5mo agoThe IRS would be fine worth it if taxable income is unchanged. Businesses are taxed on their net income, not get gross.
- thih9 5mo agoYou mean they are fine with the things they won’t notice? Perhaps that is true.
- gamblor956 5mo agoNo, depending on your accounting method the transaction we're discussing may be disregarded, so the net economic position of the taxpayers is no different. As a result the IRS is generally indifferent...so long as you maintain that method of accounting for future similar transactions.
- deleted 4mo ago[deleted]