Many people believe that "write off" means "free", it doesn't mean anything of the sort.
Write offs are not tax credits where you get to reduce your taxes due dollar per dollar against your losses. Write offs are like tax deductions whereas you get to deduct the amount of your loss as a "write off" from your taxable income thereby reducing your taxes, but not on a 1:1 ratio.
Someone in the 50% taxable income bracket would actually only see a return of .50 for each tax write off dollar. There are exceptions, like real estate with depreciation or gas or oil ventures where your actual write off may be a multiple of your loss, but ordinary business losses do not apply.
So, when you hear "yea, but it's a write off", remember, it's doesn't mean free.
In fact I'll make this offering open to everyone: for every dollar you send me, I'll return .50, same as a tax write off...no limit. Hell with it, I'll make it .60. :wink:
Just some info for those who didn't know.
J
over their heads.....