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?

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

I believe so

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

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. :)

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.

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