• Boomer Humor Doomergod
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    2 months ago

    It would be so awesome if I could deduct food, housing, and utilities from my income for tax purposes.

    • kn0wmad1c
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      102 months ago

      I think you can, but most people take the standard deduction every year (which is supposed to represent these things) rather than calculate the itemized deduction with receipts.

      • Boomer Humor Doomergod
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        292 months ago

        I’ve itemized a bunch of times and you were pretty limited in what you could deduct. If you have a mortgage you can deduct the interest but not the payments. And before 2020 you deduct a portion of your household expenses if you had a home office.

        But to a business those are all operating expenses and businesses only pay tax on profits.

        • kn0wmad1c
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          2 months ago

          That’s such garbage. Corporate lobbying should have never been made legal.

          • mycelium underground
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            62 months ago

            So you are going to open an LLC, transfer your wages to it(already taxed) so that you can buy everything for your life and then try and get a big deduction on the money that is left over(the LLC’s “profit”)

            I’m not sure that adds up like you think it does…

      • @ThomasCrappersGhost@feddit.uk
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        52 months ago

        I’m presuming you do your own taxes in your country, cause here you only can if you’re self employed, and you use your home for something like an office, I think.