John Dudon - Limited Loss Deductions F

Unless your business is registered as a Corporation you may be subject to excess business loss limitations. Let that sink in for a while.

In AMERICA you can no longer report losses of more than $250,000 in any given tax year … unless of course your business affairs are incorporated.

This shittiest of the #Stoopid Tax Cut & Jobs Act reporting requirements – IRS Form 461 is but one of many new mind numbing forms. If you don’t believe me, check out line 13 of the form – my personal fav:

“If line 12 is a negative number, enter it here as a positive number. If line 12 is a positive number, enter it here as a negative number.”

IRS Form 461 Line 13

What the ….?!?!

Why must we use the tax code as some sort of social engineering tool?

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