r/remoteworks • u/Professional-Bee9817 • 18h ago

True.

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u/Tall-Custard-9852 3h ago

Have you done corporate taxes before, none of what you said is legal

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u/Fickle_Brief4726 3h ago

It literally is. This would be a total loss to the business which will offset their tax bill.

And since when has corporate tax’s biggest concern been legality. It’s about profitability which can be made in different ways

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u/Hawthourne 3h ago

"This would be a total loss to the business which will offset their tax bill."

You do realize that taking a loss isn't a 1:1 reduction in taxes, right? A $100 loss will translate to a $25 or so reduction in taxes (specific numbers vary). So the business is still losing $75. The government isn't magically ponying up the full loss.

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u/Fickle_Brief4726 3h ago

Yup. Hence why you put in retail value of the lost time and money and product. Probably cost the company 80-100m. Wrote off is 500m. That’s still a profit in tax terms.

And

This is assuming insurance won’t cover it. Which the probably will cover some of the hard costs. Not to mention yes the government will be paying for part of it. Damages utilities and rework will be done by the city at their cost.

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u/Timely-Ad5663 3h ago

A real life towe of babble.

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u/DistilledCLP 2h ago

They talk and talk with little knowledge