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Re: The tax man is here
[Re: FreeStateHunter]
#3654296
04/17/22 09:01 PM
04/17/22 09:01 PM
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Joined: Jun 2016
Posts: 1,896 lauderdale co
brushwhacker
8 point
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8 point
Joined: Jun 2016
Posts: 1,896
lauderdale co
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Irs tax code section 179 was changed in 2018. I think it allows any equipment you bought for business can all be claimed 100% for depreciation the first year u buy it instead spread our over years. Some types of property applied to that also. I not a tax expert at all but i have friends that run million dollar buisness an pay little taxes . Almost everything they spend is deductible. U can start a side hustle an claim loss for 3 years but 4th year have show a profit or the irs can consider it a hobby. I did that with my wifes 20k embroidery machines . Closed it the 4th year. Like donald trump said i would use every tax break under the law. Screw them. Pisses me off to no end work an pay all them taxes an neighbor sits at home with house full of kids an no job an live better than me. Free food, free phone, free obamacare . Seems like im penalized for working. The thousands i pay in taxes help keep these deadbeats up.
Brushwacker
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