Jesus Christ I’m tired of people not understanding what a write-off is.
It’s a reduction in taxable income, not a tax bill. If your tax rate is 20 percent and you write off a $100 loss, your tax burden is reduced by $20, resulting in a net loss of $80.
You can’t just make massive losses go away with a write-off.
Jesus Christ I’m tired of people not understanding what a write-off is.
It’s a reduction in taxable income, not a tax bill. If your tax rate is 20 percent and you write off a $100 loss, your tax burden is reduced by $20, resulting in a net loss of $80.
You can’t just make massive losses go away with a write-off.
It’s almost as daft as people thinking they’ll lose out by going into a higher tax bracket