> Businesses are only taxed on actual revenue earned.
I don't want to go too far down the rabbit hole of hn speculation, but if another entity owes you 100k, and they go bankrupt, there absolutely are tax implications.
> Businesses are only taxed on actual revenue earned.
I don't want to go too far down the rabbit hole of hn speculation, but if another entity owes you 100k, and they go bankrupt, there absolutely are tax implications.
Agreed … but that is a different situation.
That is a lack of payment situation.
Revenue was still earned (and charged) … and since you never collected revenue then you don’t pay taxes.
Actually, I described two different things.
The second one (the prescription one) may well be wrong. It’s total speculation, on my part.
The first one, though, I’m pretty sure is right.
I love the traditional debate tactic, where we find one part of an argument to be wrong, and use that, to say the other part is, too.
It’s no matter. I’m done here, anyway, and yield to you. The fox ain’t worth the chase.
Would the tax implications not just be for whatever it costs on their end, regardless of what the customer was charged?