@christinajacobs Can you take out a loan against your business and stop paying payroll taxes? lol this is definitely super complicated so not everyone does it right?
@christinajacobs Looks like the answer is you have to pay taxes on the interest you pay the bank. It’s just that in the long run it’s extremely more profitable to avoid the capital gains and pay the interest on the loan.
@christinajacobs Ok this definitely happens, but I never understood how they pay the loan back without paying taxes then? Like the money you pay to the bank has to be recorded as income. Do you just live your life forever in debt and only pay the interest/low principal?
This is unacceptable.
We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.
As a member of the Financial Services Cmte, I’d support a hearing if necessary.
My Bitcoin price target is $238,855. I arrived at this price target by googling the distance between the earth and the moon and converting it from miles to dollars.