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by throwaway190102
2691 days ago
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Individual workers are allowed to do this. In the form of deductions for various types of expenses such as medical and various other deductions. But it means something different to make a wage and to make a profit. There are definitely loopholes to close in our busted tax system, I agree with that 100%. While we are at it we should eliminate all subsidies for various types of carved out businesses from oil to corn. But Characterizing loss calculations as a loophole I don't think is correct. If I'm not mistaken most corporate tax schemes in the rest of the world use similar concepts, it's a fairly basic accounting concept. |
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Why? Other than "because our tax law says so"?