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Ah, and only 90% of gambling losses. Looks like another point against the poor.
Not that I’m condoning gambling, but, weird how those things impact polar opposite sides of the wealth gap.
Wait, if you buy a 10 dollar scratch card, you can deduct 9 dollars from you income for tax purposes?
You think the people buying scratch tickets are itemizing? Idk, maybe they will, they're not the brightest
In my experience, poor people gamble a lot. I've never seen a rich person buy a lottery ticket
rich people gamble plenty, they just call it investing and get way more tax write offs for doing so
That’s the point. Poor people gambling can’t write off their losses on taxes. Well, they can, just only up to 90%. Rather than all of it like it has been.
Pretty sure poor people don't have enough money to hire someone who can write off losses
They don't make enough to itemize in the first place, they'll just take the standard deduction. (Unless they lost like $20k on scratchers somehow)
Anyone can write off stuff on their taxes. It's pretty easy actually.
I'm always terrified to write stuff off because I fear I will accidentally write something off that I'm not really allowed to due to some obscure legalese and then I will get audited in 5 five years and owe 10 grand in late fees and interest or some shit.
I too get nervous every time I do my taxes but I figure if I'm honest about it they'll forgive most mistakes
It’s not hard to file taxes. Especially for an individual, with a normal W2 income, and not much else. Certain people try to make it hard, but it’s not.
I don’t need to pay someone to put a number on a form.
Most poor people probably just take the standard deduction anyway. It's not like they have enough money to accumulate a large amount of deductible expenses anyway. Possible exceptions might be large medical expenses or a mortgage.
The rest of the world: nah, its insane and difficult that you have to file taxes