Globill's fuckup=Loss on taxes? - GoFuckYourself.com

QualityMpegs · 07-25-2003, 11:28 PM

So, since I lost a couple grand from this Globill escapade, can I write that money off as a loss on my taxes?

p00p · 07-25-2003, 11:29 PM

Quote:

Originally posted by QualityMpegs
So, since I lost a couple grand from this Globill escapade, can I write that money off as a loss on my taxes?

Yes! It is a loss! (in Canada, anyways)

foe · 07-25-2003, 11:43 PM

I believe so

Nurgle · 07-25-2003, 11:44 PM

Yeah.. but with the lack of stats etc.. how can you prove how much you lost?

I for one would love to know myself

Nurgle

lexr · 07-25-2003, 11:48 PM

Well, it is my understanding that if you NEVER get that money back then it should be a loss, yes.

The reason for this is that if you never get paid for the $10,000 worth of membership you sold, those members got access to your content for free. So it's a business loss since membership costs you money (money to produce content, money for bandwidth, money to edit the content etc.. etc..)

Of course, if you're unsure it's always a good idea to see a tax expert since I am not one. Just offerring suggestions (and not tax advice) based on what I would do if I were in this situation.

Adult Site Traffic · 07-25-2003, 11:51 PM

Yes, a loss. Even perhaps on the fraud line. That's where I'd put it anyway.

I learned to get real fucking serious about loss/fraud when I looked at my quarterly bills.

Ask your accountant.

AST 121760557

07-25-2003, 11:28 PM	#1
QualityMpegs Confirmed User Join Date: Feb 2003 Location: Orlando, Florida Posts: 3,521	Globill's fuckup=Loss on taxes? So, since I lost a couple grand from this Globill escapade, can I write that money off as a loss on my taxes?

07-25-2003, 11:44 PM	#4
Nurgle Confirmed User Join Date: Feb 2001 Location: Land of OZ Posts: 2,337	Yeah.. but with the lack of stats etc.. how can you prove how much you lost? I for one would love to know myself Nurgle __________________ I am not a megalomaniac.. I just rule the world Need Quality Hardlinks? We have several packages and custom deals available. High Quality Hard Links For Sale ICQ: 394016570

07-25-2003, 11:51 PM	#6
Adult Site Traffic Confirmed User Join Date: Mar 2003 Location: South-East of the Border of Disorder Posts: 5,093	Yes, a loss. Even perhaps on the fraud line. That's where I'd put it anyway. I learned to get real fucking serious about loss/fraud when I looked at my quarterly bills. Ask your accountant. AST 121760557 __________________ ALL Domains and Websites are GOING AWAY NOW! Ask me! Many great domains, mainstream and adult, some complete sites with databases, some names with traffic and PR, some investment quality names. Come take a look! { Traffic Orders: Please go here } .:: SHARPEN the Elite - BURN the leftovers! Ooh-Rah!! ::.

07-25-2003, 11:43 PM	#3
foe Confirmed User Join Date: May 2002 Location: CT Posts: 5,246	I believe so

07-25-2003, 11:48 PM	#5
lexr Confirmed User Join Date: Jul 2003 Location: Tempe, AZ Posts: 428	Well, it is my understanding that if you NEVER get that money back then it should be a loss, yes. The reason for this is that if you never get paid for the $10,000 worth of membership you sold, those members got access to your content for free. So it's a business loss since membership costs you money (money to produce content, money for bandwidth, money to edit the content etc.. etc..) Of course, if you're unsure it's always a good idea to see a tax expert since I am not one. Just offerring suggestions (and not tax advice) based on what I would do if I were in this situation.