, Amazon consistently operated at a loss, losing a combined $2.8 billion during that span. Amazon's strategy was to direct more funds towards growing the company and acquiring market share. And Amazon's strategy took it from an online book seller to the e-commerce giant it is today. The average investor can use a similar tax rule, too. The IRS allows a, which allows an investor to sell a stock or a mutual fund at a loss and then use it to offset capital gains.
In the case of President Trump, the mechanics are similar. The Times reported that Trump lost $47.4 million in 2018. In 2016, the Times obtained portions of Trump's 1995 taxes in which he declared losses of $915.7 million — a loss that would have allowed him to offset his income tax for decades. "All assets have a 'shelf life,' or a useful time period," said Courtney Richardson, practicing attorney and founder of the Ivy Investor. "Depreciation allows business owners to reduce the value of that asset over a certain time period to basically account for wear and tear."
Claiming losses on taxes are not only 'for the rich'. I've done it when I invested in the stock market. People thinking it's criminal only shows how much public schooling has failed. They'd rather teach Common Core, Critical Race Theory and Gender Studies than Tax Code.
Isn't this that new one in some somewhat recent bill
wow that's amazing!
Oh so he wasnt getting rich off russia? Well now what dems?
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »