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?

  • FireTower@lemmy.world
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    2 months ago

    Talk to an accountant if you haven’t it sounds to me like you may be able to claim some deductions.

    If for every $100 gross income you make you pay $20 in taxes and $80 in expenses you may be able to claim some of your expenses to reduce your tax burden.