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Comment by throwaway9980 | Hacker News Reader

Brilliant. The financial hoi palloi also don’t seem to notice that their revenues are deemed income for tax purposes while for corporate persons revenue remains revenue and is untaxed. Corporate persons only pay taxes when they fail to ensure that there is no income at the end of the year. If only the rest of us could treat investments in couches and Xboxes as capital expenditures!

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>The financial hoi palloi also don’t seem to notice that their revenues are deemed income for tax purposes while for corporate persons revenue remains revenue and is untaxed. Corporate persons only pay taxes when they fail to ensure that there is no income at the end of the year. If only the rest of us could treat investments in couches and Xboxes as capital expenditures!

That's because a person can consume food, entertainment, etc., but a corporation can't. It's strictly a entity that passes on profits to its owners.

> That's because a person can consume food,

You can write off a business dinner as an expense. Upper management also gets company cars, company phones, with company paid plans that they often use for private purposes as well.

I mean... I guarantee you that corporations buying xboxes for entertainment in the office are writing them off.

You can do that as an individual as well. You just to have a business and declare it as a business expense. Either way, the business itself isn't consuming it.

But if I invest in an Xbox then that’s capex, so I’d only be claiming the depreciation. Better than nothing though ;-). How do I do depreciation on a beer I’m investing in?

Also first time I’ve heard hoi polloi since Thatcher era.

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