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TRADERS: Beware ! The IRS want to tax profits, but not accept your losses as reasonable !

LessThunk comment: It’s seemingly every governments prerogative to assume that their citizenry are tax evaders and to push the burden of proving innocence onto individuals.  So, no surprise to see the IRS saying that a loss-making small-enterprise is really just “a hobby” dressed up. If you do not make profits most of the time you can no longer expect to see IRS relief for losses.

We hate this; it exemplifies a classic “have your cake and eat it” attitude of the ruling-class in the USA; this is not at all in the spirit of supporting “mom&pop” free-enterprise for the sake of Americas future !

http://www.marketwatch.com/story/why-the-irs-may-want-to-call-your-business-a-hobby-2015-03-17


Categorised as: Life | Politics

Posted by: Phaedrus

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