Do YOU love yourself for who you are? Do you accept yourself and all your imperfections? Is there anything you are not happy with about yourself that you can change?
This is all that matters. Stop trying to push things and appreciate what you have. If there is something about yourself that you can change, then change it. Otherwise, stop worrying about what others think and learn to love yourself.
When you figure this out and learn this, everything else will follow. How can others love you, if you don’t even love yourself?
Are there any negative consequences? I’d prefer to be downgraded to a hobbyist. Instead, the government has increased my taxes to around 70% of my yearly revenue. Social democracy, fuck yeah!
Profitability is just a proxy for whether someone is legitimately running a business, or just trying to save money on their hobby. Businesses can deduct expenses, hobbies cannot.
So if you are running an etsy store or an engineering company and buy a 3d printer to make parts, the cost of that 3d printer is subtracted from revenue for tax purposes. If your “business” is actually a hobby, it’s not legally a business expense and therefore it’s not deductible
This is a great explanation for why business deductions are stupid in the first place. Why does being profitable justify being even more profitable by paying fewer taxes?
This is a great explanation for why business deductions are stupid in the first place. Why does being profitable justify being even more profitable by paying fewer taxes?
Winner takes all, I guess? Amazon has been so successful they became a literal monopoly (don’t care to argue semantics of it, this is my opinion), and employs hundreds of thousands of people. They’re so successful that the impact of causing them to pay their fair share might impact the economy in a larger sense. So they just let them have way more freedoms than small businesses?
Why does being profitable justify being even more profitable by paying fewer taxes?
It’s not about encouraging profitability (that only one proof of a real company) as much as allow businesses to grow, without people faking businesses to write off personal expenses. Properly reporting expenses can allow new or growing businesses to reinvest in themselves. I agree that there should be a different structure for large business but I’ll give a hypothetical to outline why it’s important for small businesses.
Let’s say a new family owned machineshop does $200k in sales in its second year. Pre-tax after all other expenses the business has netted $50k. Post tax (-$40k) they’ve got $10k left to reinvest. They want to buy $20k worth of machinery to grow the business. If they can deduct $20k for the machinery from the $40k in taxes the can buy it. If not they can’t.
Meanwhile the large international conglomerate machineshop down the road makes $400k a year post tax. If the want $20k in new machines they just buy them. This isn’t because they run a better business w/ better margins or product but because they have more volume.
Properly reporting expenses can allow new or growing businesses to reinvest in themselves.
Why is that a thing for businesses and not regular people? Why is it important for someone to pay 10% on a knife purchase, but a business doesn’t need to pay the same thing when both situations end up with owning a knife?
70%? The fuck? What do you do for a living/do you have an accountant? That doesn’t make any damn sense. Like truly I do not understand how this is possible. I’ve been a freelancer and a small business owner and even in my worst years I didn’t come anywhere near 50%, let alone 70%
Truly this just sounds like you are way overpaying. Do you get a sizable tax refund? Do you live in a state that has some sort of crazy law you fall under?
In the USA, there are tax breaks regarding expenses. A big one is that, because the USA does final sales tax instead of VAT, a business can buy goods without paying sales tax as long as they aren’t the final point of sale.
Think of someone who makes small crafts and sells them on some online platform. Someone who does this as a business will keep track of their materials costs, and subtract them from their sales cost, only paying taxes on their actual profit.
But the IRS will only let you do this if they determine your intent is to make a profit. If they think you are purposely just selling enough to cover your materials, but using most of the materials for yourself, they can tell you that you never had an actual business in the first place, and that all that deducting of expenses never should have happened.
Seems like it’s completely subjective, too. I’ve seen many posts on reddit about people being shafted by the IRS and forced to pay back a ton in taxes even though it was a legit effort to run an actual business, simply because they don’t “think” it’s a business
Yes the main appeal of a LLC is that you aren’t liable if your LLC gets sued. As a sole proprietor if someone slips and falls in your store they can recover damages from you personally. As an LLC they can only get the business’s funds.
This means that even if awarded damages from a civil case tanks your business your won’t be out of a home and your personal bank accounts are safe (not considering the burden of lossing your source of income).
Shadow of Tomb raider. I’ve avoided this game because of the bad reviews I’ve read near premiere. But I find it quite chill. I qm playing on normal and sequences with enemies are not as tedious as in rise of tomb raider
It’s only a country in the vaguist sense. It’s a historical artifact. Charlemagne’s last gasp. It’s beyond funny that they have a vote in the UN, despite being effectively a tax haven and ski resort.
It’s such a bizarre thing that Macron is a prince there.
Doh, I thought it was Liechtenstein. I rember three small things from my kids geography quizes… Monaco, Vatican city, and Liechtenstein. So in my mind it had to be one of them. Lol.
Fun fact: this country is visible only to European eyes, and accessible only by Europeans. Only Europeans can comprehend its name.
Rumour has it that it is accessed by going to a nudist beach blindfolded, then drinking a glass of Chardonnay and humming Ode to joy. You will fall into a slumber and wake up soon after on a beach in this mysterious country.
Small businesses absolutely can, and should claim any valid expenses. In theory audits are not punishments. They happen to large companies too. But in practice small businesses often don’t have full time accountants keeping their records and some receipts are lost after the cost has been reported.
Like many compliance regulations bookkeeping has costs that larger business are easier able to bear. Small businesses do get some aid notably a lot of money went out during covid, but big businesses have the people and resources to take advantage of that aid more than a solo proprietor who wasn’t even aware. Although small businesses never seem to get those “to big to fail” bailouts.
To touch on the hobby point if you run a business 40 hrs a week and lose twice what you make a year the IRS probably won’t mind. But if you’ve got 3 businesses you use to right off expenses (like craft brewing equipment, leather working tools, or art supplies) and you only have ever sold a single belt on Etsy over the span of a year they’ll probably have an issue.
But in practice small businesses often don’t have full time accountants keeping their records and some receipts are lost after the cost has been reported.
Not to mention large businesses can spend more money on lawyers that are able to drag out court cases through delay tactics and are far more likely to get the government to settle.
Western societies have an imperialist belief that we should be at the head of the table when it comes to the world order, politics, and having a say about what happens outside of our borders.
This is ingrained in all of us from a very young age by design. They’ve been doing it for millennia, and it’s been working pretty well, so no need to change tactics.
It’s also why non-western nation-states aren’t as involved directly in the politics of other nations. It’s not really a part of their ethos as a culture.
You’ve got a good point there but limiting it just to the west shows your lack of understanding about world politics. The imperialist approach is present in many parts of the world and throughout old and recent history. Besides the west, Russia (warning: propagandists incoming) is doing that with neighboring countries and in Africa, just like China and other African countries are doing that too in Africa. Rwanda in Congo for example. China to Hong Kong and Taiwan. Japan and their massacres during WWII. Morocco in the Sahara region. Israel in Palestine, and vice versa Hamas to Israel. In Islamic countries: sunnies vs sjiets (or however it’s written).
So your point of view is a bit too brainwashed around the west I’m afraid. Lots of governments trying to subjugate other countries for wealth and power benefits.
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