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Originally Posted by Yakk
Cost of doing business is a tax deduction off your income.Ok, lets deduct the cost of gaining your income. From everyone. From the McDonalds employee who has to take a bus to work, to the lawyer who needs to buy a suit, to the wage-slave who spends 80% of her gas mileage on commuting.
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No shit, I make nearly 50k/year so you'd think that I'd be able to live pretty comfortably and have a modest disposable income. However once I pay our car payments, insurance, rent, etc. etc. etc., all I have left is food money. I haven't bought clothes in two years. If I could deduct all my 'cost of working' and 'cost of living' expenses I'd pay taxes on less than 10k/year.