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?

  • snooggums@midwest.socialEnglish
    9·
    3 months ago

    But in practice small businesses often don’t have full time accountants keeping their records and some receipts are lost after the cost has been reported.

    Not to mention large businesses can spend more money on lawyers that are able to drag out court cases through delay tactics and are far more likely to get the government to settle.