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by dionidium 1758 days ago
> However, depending on the country, tax laws can be fairly advantageous for small business owners

My wife is a loan officer at a mortgage company. It's a running joke that it's a pain in the ass to qualify small-business owners, because so many of them claim so little actual income on their tax returns, even when they're quite obviously wealthy.

2 comments

Many years ago, I had a small side software business. My revenue would be almost pocket change category for me today and honestly wasn't all that much for the effort I put into it at the time. But one nice thing was that it wasn't even a stretch to bring to income down to just over zero by offsetting various computer and office expenses (in addition to the costs the business incurred directly, which weren't much).
They may well be cheating on their taxes, but they may also in many cases be wealthy in spite of, rather than because of, their small business.