Revenue is not profit. Costs haven’t been taken out yet. This is part of the structural unfairness of personal income tax vs corporate income tax. Companies can write off everything they need to earn money (rent, supplies, wages, utilities) but people can’t.
How many companies have $100 million in profit, or more? It’s just one: Apple.
Businesses can’t deduct those asset purchases as costs (they are not “expenses”). They have to depreciate them over a set number of years, according to established accounting practices.
Purchases of long-term business assets, such as factories and equipment, are claimed as depreciation. This involves subtracting a percentage of their cost per tax return over a period of years.
This is fine and actually correct, because equipment and buildings literally cost money every year to repair or replace parts.
There are enough things to be angry about without making anything up. Please educate yourself about what businesses actually do, so you can advocate correctly. Otherwise you just sound dumb.
I don’t care of costs haven’t been taken out. Tax it at some low rate (ie 1-5%). Again, no company should revenue >$100 billion/year anyway because, as you’ve stated, it’s pretty much a monopoly at that point.
Revenue is not profit. Costs haven’t been taken out yet. This is part of the structural unfairness of personal income tax vs corporate income tax. Companies can write off everything they need to earn money (rent, supplies, wages, utilities) but people can’t.
How many companies have $100 million in profit, or more? It’s just one: Apple.
https://www.financecharts.com/screener/most-profitable-country-us
They’re already under investigation for monopoly practices:
https://www.nytimes.com/2024/03/21/technology/apple-doj-lawsuit-antitrust.html
If they didn’t count expansion and buying property and tools with reliable resell values as “costs” I’d agree.
Businesses can’t deduct those asset purchases as costs (they are not “expenses”). They have to depreciate them over a set number of years, according to established accounting practices.
https://www.thebalancemoney.com/expense-or-depreciate-items-on-your-taxes-392950
This is fine and actually correct, because equipment and buildings literally cost money every year to repair or replace parts.
There are enough things to be angry about without making anything up. Please educate yourself about what businesses actually do, so you can advocate correctly. Otherwise you just sound dumb.
Lol, sucker
I don’t care of costs haven’t been taken out. Tax it at some low rate (ie 1-5%). Again, no company should revenue >$100 billion/year anyway because, as you’ve stated, it’s pretty much a monopoly at that point.