I genuinely did not expect them to respond to this:

*removed externally hosted image*

This was so beyond ridiculous that I debated posting it. I wasn't sure if people would believe it or not.

  • FloridaBoi [he/him]
    ·
    3 months ago

    You should see what landlords can deduct. They can basically go 10 years with artificial losses and never pay taxes on rental income

      • FloridaBoi [he/him]
        ·
        3 months ago

        That’s what independent contractors do. They flush all income through it then deduct all car mileage and miscellaneous expenses through it and “pay” themselves a meager wage from that income. The LLC or S-corp shows paper losses and since it is a flow-through entity they get to deduct those losses on their personal income taxes