Uber has never once turned a profit, and is allowed to continue running their business. If you’re a small business owner running an ebay or ecom business, and you claim losses for 3 out of 5 years in a row, it’s likely that the IRS will audit you, and could deem you a hobby. Amazon is often cited as not generating a profit for many years, but is now profitable. For them, it was somehow okay to run a business making no profit! So like, how come small businesses can’t claim losses, but big corps can?

  • HobbitFoot @thelemmy.club
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    2 months ago

    In the USA, there are tax breaks regarding expenses. A big one is that, because the USA does final sales tax instead of VAT, a business can buy goods without paying sales tax as long as they aren’t the final point of sale.