• wulrus@lemmy.world
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    7 hours ago

    The one point I don’t completely understand is the tax debt: Wouldn’t a failed business, no matter how ridiculous, be a complete write-off?

    Maybe the problem is that he has to tax each fiscal year independently, so a tax debt in 2023 from successful freelance work would not be diminished by a failed “business idea” in 2024.

    • magnetosphere@fedia.io
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      5 hours ago

      My sarcastic answer is that it’s not a write-off because he’s not already rich.

      My honest answer is that I don’t know, because I don’t know shit about taxes.