Comment on One year after being bought for $44 billion, X is worth $19 billion
chiliedogg@lemmy.world 1 year agoWhether a multi-year or single-year write-off, it’s still coming off taxable income, not taxes owed.
That truck doesn’t become free. If your tax rate is 25% and you manage to write it off at 100%, you saved 10 grand in taxes. Which is nice if you need the truck, but if you don’t actually need it you’ve actually wasted $30,000.
Saledovil@sh.itjust.works 1 year ago
That’s pretty much what I’ve been saying.
chiliedogg@lemmy.world 1 year ago
Profit and taxable income aren’t the same thing.