People Twitter

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Did you pay your taxes? (sh.itjust.works)

submitted 5 months ago by thal3s@sh.itjust.works to c/whitepeopletwitter@sh.itjust.works

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Related: Robert Reich posted earlier today that Tesla paid ZERO taxes on $5 billion in sales (earnings?), so that’s just fucking great.

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[–] btsax@reddthat.com 8 points 5 months ago

No, deductions for business expenses happen "above the line" so they reduce your taxable income. The standard deduction happens "below the line" and is applied to your taxable income after business expenses etc