Quote:
Originally Posted by BlackBellamy
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Pretty ironic that someone posts that people don't understand how taxes work and then right away someone demonstrates it.
Drakborn, you don't know how taxes work.
I have a million dollars in revenue. I also have a million dollar in expenses. My taxable income is zero. Yet my business is booming and I'm getting paid. Do you understand now?
Oh, in case you don't know, this is how the IRS collects it's money:
Jail time lol.
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Quote:
Originally Posted by Googi
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Ive been audited, offsetting is a business strategy everyone uses, you buy inventory or expensive equipment at the end of the year and it washes away X amount of profit and carries over to next year. Rinse and repeat.
I dont have wages, i own a company.
No one goes to jail for civil crimes?
You stupid?
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The fact that you two are conflating business taxes and personal income taxes prove you have no fucking clue what you're talking about.