Post AMaxqtPDZIMPu4Y9Ue by allenstenhaus@mastodon.xyz
 (DIR) More posts by allenstenhaus@mastodon.xyz
 (DIR) Post #AMaxqVg3n1ZYJMFGPg by thor@berserker.town
       2022-08-16T18:04:05Z
       
       1 likes, 0 repeats
       
       business taxes are quite something an individual pays taxes on any income he has. his spending doesn't affect that.a business pays taxes on profit.if a business earns a profit but spends it all on loan payments, that's still taxable profit, even though the business wouldn't have money left in its bank account to pay any taxes at that point.if a business tries to save up money in order to have a buffer to, say, pay taxes, this is also profit and is taxable.the only way to avoid taxes is to appear unprofitable. purchases and wage payments count as expenses. many businesses are in a hurry to write down such expenses near the end of the tax year in order to avoid profits backfiring as taxes due the following year.
       
 (DIR) Post #AMaxqtPDZIMPu4Y9Ue by allenstenhaus@mastodon.xyz
       2022-08-16T18:51:39Z
       
       1 likes, 1 repeats
       
       @thor It's what I do with my LLC. It's why on paper I live below the poverty line. In practice, I live just above it.Being American, if I make too much money, I lose my state health insurance, but I won't make enough to but private insurance. I have to stay poor on paper, or I'll die.Land of the free, my ass.