News for hackers. Stuff that matters.

A comment on 'It's crazy': Chase forgiving all debt owed by its Canada credit card customers. Parent comment

Re:'It's crazy': Chase forgiving all debt owed by its Canada... by gruez on Friday August 09, 2019 @08:51AM (#20653804)
Tax write-offs are profits that were never made in the first place. It's not some sort of a tax credit. The reason you pay less taxes is because you didn't make a (or made less) profit.
[ Parent | on HN ]
Re:'It's crazy': Chase forgiving all debt owed by its Canada... by paxys on Friday August 09, 2019 @12:51PM (#20656089)
You are talking about losses. Unpaid debts/invoices is its own category, and can definitely be deducted (see https://www.irs.gov/publications/p535#idm140359415938416).
[ Parent | on HN ]
Re:'It's crazy': Chase forgiving all debt owed by its Canada... by kgwgk on Friday August 09, 2019 @02:30PM (#20657095)
Because they are losses.
[ Parent | on HN ]