@[email protected] to Lemmy [email protected] • 1 year agoYou can also take deductions for costs relating to criminal activity!lemmy.worldimagemessage-square117fedilinkarrow-up1852
arrow-up1852imageYou can also take deductions for costs relating to criminal activity!lemmy.world@[email protected] to Lemmy [email protected] • 1 year agomessage-square117fedilink
minus-square@[email protected]linkfedilink17•1 year agoSo then if you get caught and these are taken away from you, I assume you can declare it as a loss and get an equivalent deduction the next year? I wonder if anyone’s ever used this to their advantage to game their tax rates?
minus-square@[email protected]linkfedilink2•1 year agoFrom what I remember you actually can’t claim deductions for illegal activity. I believe the post title is wrong.
minus-squareMidnight WolflinkfedilinkEnglish20•1 year ago“damn, I can’t steal any more this year or I go up another tax bracket”
minus-squarePoggervanialinkfedilink2•1 year agoOr more accurately: “I need to steal at least $3k more in stuff so I can properly tax loss harvest on my criminal activities”
So then if you get caught and these are taken away from you, I assume you can declare it as a loss and get an equivalent deduction the next year? I wonder if anyone’s ever used this to their advantage to game their tax rates?
From what I remember you actually can’t claim deductions for illegal activity. I believe the post title is wrong.
“damn, I can’t steal any more this year or I go up another tax bracket”
Americans will never understand tax brackets.
Internet users will never understand sarcasm.
Or more accurately: “I need to steal at least $3k more in stuff so I can properly tax loss harvest on my criminal activities”
This guy crimes (and taxes)