If I spend my entire gross income on business expenses today. Will that defer any money I owe to the IRS for an entire year?

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Anonymous Mon Jan 1 05:46:44 2024 No.57145814 [Reply] [Original]

If I spend my entire gross income on business expenses today. Will that defer any money I owe to the IRS for an entire year?

>>	Anonymous Mon Jan 1 05:48:01 2024 No.57145820 I declare everything as business expenses My kids gifts this christmas were business expenses kek the irs can fuck right off

>>	Anonymous Mon Jan 1 05:49:08 2024 No.57145824 >>57145814 >2024 >businessing you literally work for the state

>>	Anonymous Mon Jan 1 05:52:25 2024 No.57145842 >>57145814 >>57145820 You guys really need to get an accountant. You don't always just write shit off sometimes you put it on a depreciation schedule. There's also a maximum amount you can write off every year, I think it's around $25k.

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/biz/ - Business & Finance