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Originally posted by B40
Not that simple. There's a whole bunch of other things that can and can't be included. For example you can write off 50% of meal and entertainment expenses.
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I think you are complicating things. This person said he makes a few hundred a month. How many lunches with porn stars do you think he has had?
Like I said before, just add up all your expenses and all your revenue checks. Then read through one of the government handbooks on how to depreciate your few assetts (like computers and content) and do that, and you are set.