Notes On Federal Income Tax

[Viktor]

Business owners are allowed to deduct their expenses and some of their operating losses from their taxable income before their tax is computed. That means some years Trump will pay heavy taxes and other years his income tax burden is very low.
The provision is called "carryover loss deduction." It helps keep business operating in lean years and supports jobs for it's exployees.

 

[rightwinger]

Business owners are allowed to deduct their expenses and some of their operating losses from their taxable income before their tax is computed. That means some years Trump will pay heavy taxes and other years his income tax burden is very low.
The provision is called "carryover loss deduction." It helps keep business operating in lean years and supports jobs for it's exployees.

You should claim your loss in the same year it was experienced

Just like normal taxpayers do

 

[Toddsterpatriot]

You should claim your loss in the same year it was experienced

Just like normal taxpayers do

You should claim your loss in the same year it was experienced

They do. And any remaining losses are carried forward.

Just like normal taxpayers do

Normal taxpayers carry forward capital gains losses.

 

[Viktor]

You should claim your loss in the same year it was experienced

NOT NECESSARY.

That is often impossible since the years results take time to compile and audit. I am a CPA, jackass.

 

[Toddsterpatriot]

NOT NECESSARY.

Who are you talking to? Why the misquote?

 

[Viktor]

Who are you talking to? Why the misquote?

YOU. A corporation's operating results are not available generally until 4 or five months after year end. It takes time to close the books, do inventories, and prepare the report. I am a CPA so I know.

 

[Moonglow]

Business owners are allowed to deduct their expenses and some of their operating losses from their taxable income before their tax is computed. That means some years Trump will pay heavy taxes and other years his income tax burden is very low.
The provision is called "carryover loss deduction." It helps keep business operating in lean years and supports jobs for it's exployees.

And?

 

[Moonglow]

YOU. A corporation's operating results are not available generally until 4 or five months after year end. It takes time to close the books, do inventories, and prepare the report. I am a CPA so I know.

When I was self employed I kept the books up to date monthly so I could use them for tax preparation.

 

[Toddsterpatriot]

YOU. A corporation's operating results are not available generally until 4 or five months after year end. It takes time to close the books, do inventories, and prepare the report. I am a CPA so I know.

I didn't say........

You should claim your loss in the same year it was experienced

 

[Viktor]

Business owners are allowed to deduct their expenses and some of their operating losses from their taxable income before their tax is computed. That means some years Trump will pay heavy taxes and other years his income tax burden is very low.
The provision is called "carryover loss deduction." It helps keep business operating in lean years and supports jobs for it's exployees.

It's all explained here:

What Are Tax Loss Carryforwards?

A tax loss carryforward is an opportunity for a taxpayer to move a tax loss to a future time to offset a profit.

www.investopedia.com

 

[Viktor]

I didn't say........

You should claim your loss in the same year it was experienced

WHO THE DEVIL SAID THAT?

 

[Toddsterpatriot]

WHO THE DEVIL SAID THAT?

 

[BackAgain]

You should claim your loss in the same year it was experienced

Just like normal taxpayers do

Not if the retarded tax code doesn’t require it.

 

[Viktor]

View attachment 790629

WHO THE FUCK IS A NORMAL TAXPAYER, STUPID?

 

[Viktor]

Not if the retarded tax code doesn’t require it.

READ THIS, IDIOT

What Are Tax Loss Carryforwards?

A tax loss carryforward is an opportunity for a taxpayer to move a tax loss to a future time to offset a profit.

www.investopedia.com

 

[Viktor]

You should claim your loss in the same year it was experienced

Just like normal taxpayers do

YOU ARE A LYING PIECE OF DEGENERATE TRASH

 

[Toddsterpatriot]

WHO THE FUCK IS A NORMAL TAXPAYER, STUPID?

Ask the guy who posted it, grumpy.

 

[BackAgain]

READ THIS, IDIOT

What Are Tax Loss Carryforwards?

A tax loss carryforward is an opportunity for a taxpayer to move a tax loss to a future time to offset a profit.

www.investopedia.com

Hi Vickie.

Why would I be the one considered an “idiot” when I actually agree that it’s legal to carry a loss forward?

Are you always this much of a bed wetter?

 

[candycorn]