Linus Keeps Ranting About Taxes 

dunno man, i don't think there's anything dumb about what they said ;)

They continue to call things tax write offs for the rest of the show

We all do 😂😂

It triggers Linus a little coz it takes a moment for Linus to realize the guys are messing with him.

Made me keep watching.

Linus Family Group. 😆😆

Underrated

Id blame blackrock and vanguard more. No wait, that's antisemitic, my bad!

@@BichaelStevensas much as PMCs are shit, they weren’t responsible for 2008

@@Coliflower185 Kneeqa they're investment and real estate companies...

I didn't know people are named BlackRock and the Federal Government

But would it be?

This is, unironically, a great idea. "This shirt is a tax write off", "This backpack is a tax write off", etc.

@@kaushalsuvarna5156 no, but the taxes could be a shirt write off

Well well well looks like you can

I 100% agree!

he probebly can on some. what I think is that there two tax write off. full and limited. Like if I own a privet car and I use it in/at/on/for work a lot I can write some of my car tax off. I can´t write off all my taxes on the car. the crux is 1 how much can I write off and is that worthwile to go after. 2 would it be easier to just not write it off at all. the problem is that there been so many scandals where soem Rich corpo have bought a Privet jet and then written off 100% of the jet as tax write off when in reality he might only been able to write off 1-2% of that tax sum. problem been the IRA dont have the resorses to go and tell and prove to MR rich that no he can´t tax write of the whole jets taxes only about 1-2% of the tax sum is valid. now some sneaky companies are a bit more smart and goes well we use the jet for 5% of the tax write off and its not a small sum so we defently will request the 5% if we write it off at 100% or 90% IRA will spot it fast. so we are just going to write off 10-20% (we will be "making" money from this still but its not that insane shit.

The problem would be that treating his home as a tax write-off would expose his property and personal assets to plaintiffs in civil liability lawsuits or chapter 7 bankruptcy which could result in him losing everything if the judgement of settlement is sufficiently large or if he's forced to file chapter 7 bankruptcy to repay debts to creditors. whereas instead if he doesn't do this then the bankruptcy or lawsuits can only affect the company's assets.

​@@Zack_Wester I am just going to point out the "privet car" is the car you take sh*ts in -- so NO ONE else is going to want a ride in it!

It literally can be, at least in the US. The IRS explicitly allows any portion of a home or space that is primarily used for business to be written off. So if you have a room that is used as a home office, that takes up 100 sqft in a 1000sqft house, you can write off about 10% of all expenses including mortgage, water, electricity, etc. Now for some people it might make sense to install monitoring, such as an electricity watt meter (if your electricity use for work is more than the square footage percentage).

And large businesses, and medium businesses too

And very large businessess

@isaacbelloso7921 and not just large businesses but the Medium and Small Businesses too!

"In business we call that tax OPTIMIZATION"

Not saying larger businesses don't do this as well. But small businesses tend to be where people try to "write off" everything, including clearly personal expenses.

If enough people stopped.....

I don't care who the IRS sends I'm not paying my taxes.

@@552jacki3 What if they send Andre Rush?

​@@552jacki3IRS? Never heard of her

Live outside of society then, easy peasy.

And the amount. The amount that disappears into *administration* is absolutely f*ing absurd.

@@willdabeast6503 Fun fact, it's hard to run a miti trilliomn dollar enterpirse

hahahaha, good catch

😆😆😆😆😆

Yep very true. This is why there are SO MANY safety implementations of the X-ray machines at the company where I work. (I work at a PCB manufacturer)

This is definitely true. I have two 450 kV CT systems at work, and at max power the lower flux of the two will deliver a lethal dose of x-rays in about 16 s. One advantage that medical scanners do have though is the knowledge that your specimens do not have significant variation in their composition, so the hardware and software can be optimized for imaging them. This dramatically speeds up the process, which lowers dose. I wish I could make scans that look as good as medical scans in the same amount of time. But here I am, taking 12 hours to scan nickel airfoils...

Watch Nintendo copyright the video now

I would honestly prefer a terrible bootleg tax write off shirt

while playing along with the joke it's a bad idea to xray people unnecessarily

What's the taxable value of writing off an entire person? Asking for LMG. 😆

Actually no. Large appliances/medical equipment have a standard useful life and must be depreciated monthly.

My dad is an accountant and one of his friends owns a small business and has warned him quite a few times about things being "business expenses" when they really aren't. Like sure the minivan that has your company logo on it and is mostly used for delivering pieces of equipment to customers but is sometimes used for personal stuff is a business expense, but the other minivan the "company" bought that his wife uses to drive to work (at a different place) and drop off the kids at school is *not* a business expense. My dad kinda turns a blind eye to it and doesn't do his friends taxes but does warn him that he could easily get in trouble if they were ever audited.

My friend's boss gets a new SUV sized car from a big brand every year, of course paid for by the company

You know, this "small" companies, like LTT or MrBeast. Right now, it's rubic cube "they just send it." What will be next? The EV car "they just send it, I don't even declare it".

@@kaushalsuvarna5156 That's pretty normal for higher ups, like the video said about the dedicated chargers though there would be some indirect income taxes that would need to be paid by the boss, not sure how that's calculated though.

@@MEatRHIT2009 the difference would come down to value. A rubix cube with some custom stickers that is meant to be a promotional gift (which Dbrand would have already paid taxes on the purchase of) would be so easy for an existing company to bang out a few thousand of that a single cube being gifted is literally not worth the cost of follow up in employee time and paperwork costs. A car most assuredly is. There will be a limit under which it costs them more to dig all the shit up than it would get them in taxes that come to maybe two or three cents if they're lucky. It's also a lot harder to hide something like a car. A rubix cube can be handed to you by a rep, whacked on a shelf and never noticed again. A car has to be roadworthy and registered and insured. That's a lot of other corroborating paperwork that leaves a trail which is very easy to follow if they are given reason to go looking. I work admin at a retail company and we cannot raise a journal for anything under $3 and cannot raise a credit claim for less than $15. Anything that falls into those cracks is just a write off (in the chuck it straight in the bin and just wear the cost sense). It's not worth the time of paying someone earning upwards of $20-30 dollars an hour to chase the handful of cents they could recoup by finding it.

If it's regarded as an employee benefit for mental health and work-life balance to promote better efficiency and stress tolerance - why not.

@@Real_MisterSir no, it was generic drug companies paying to put in pools for their *customers* ie pharmacists. They claimed it was a business expense the same way taking a client out to dinner is (lol) Like I said it all changed and none of that is allowed anymore.

Something that I don't think a lot of people know is the CRA is much stricter on businesses than the IRS. If Linus actually tried to write off his pool, it would not surprise me in the slightest if the CRA considered going straight for the jugular

yes it would be a business expense, but then Linus would have to pay personal income tax on that, no different than if the company had just paid him the cash directly.

I mean that's genuinely how it works - it's just implementation that differs depending on some factors such as what industry segment your company is registered in, what your operating procedures are, what your typical income revolves around, etc. The goal of companies for the most part is to reach a net zero - where income revenue is poured straight back into the company to scale it rather than going to the government as tax -scaling in the form of business expenses that optimizes the company for future growth. No government wants businesses that stale out, so reaching net zero is incentivized. Any leftover capital is essentially useless (apart from being regarded as a safety blanket in an emergency, but even then there are other options to consider that don't rely on baseline capital). If a company pays a lot of company tax, it's generally regarded as an unoptimized business. Afterall, it's better for a country if the economy comes not from business taxation, but rather employee taxation and goods trade. Because where taxing a worker doesn't limit their scale of objective value generation, taxing a company DOES limit their ability to scale and grow and turn into a 10x or 100x economic factor in the future, with potential for many more job positions (that then get taxed individually).

@@BeerMoneyforTokyo pay your employees more and then suddenly as a whole you pay less taxes

This has been a chronic issue in the UK for a long time now. Our public services, healthcare and infrastructure are falling apart yet we pay the highest taxes since WW2. It's scandalous where the money goes.

@@bobsworth7082That's part of the con. They're waisting money on purpose so people will resent taxes more, so they can reduce taxes, so public services get even worse...

But the government acomplishes a lot, we just take it for granted

Suuuuuure.... Every phone charger in Linus' house is definitely paid out of pocket.

@@HungrysitesRu Given the rate Linus seems to lose things, they (or more likely the replacements) probably are.

It's worse even, the IRS is more likely to go after little guys who made small errors and mistakes than the big fish because the resources to go after them is substantially less than it is to go after the people who cheat on the millions of dollars. If I get a bill from the IRS, I'm just going to pay it because I can't fight it and accept I probably messed something up. Meanwhile a billionaire has an on staff tax guy and lawyer who's only job is to dispute the claim.

@@HungrysitesRubro let’s be real, who actually cares with that kind of stuff lol

@@jackieAZ Exactly. And 30x$5k home devices in the scale of $1B business (as they claim) is also within the limits of error. They have thousands of units just collecting dust on the shelves.

Rather it's run by people with too much of a conscience to even attempt any -loopholes- optimization strategies

I dunno how it works in canuckia, but here you can't use company owned vehicles for personal comings and goings.

not legally, you can't

It’s still his company. It doesn’t look good on a balance sheet that shows shrinkage from a company that doesn’t have brick and mortar stores. This is just as stupid as the idea of making needless expenses to pay less tax. This is broke man mindset

This comment is the epitome of broke people mindsets

@@josephtimothy1398 This comment is the epitome of the misunderstanding of embezzlement of company assets good sir.

Whereas in the US, you are specifically REQUIRED to disclose and pay taxes on stolen and other illegally aquired income and property. Rob a bank? Better report the money you stole! Sold drugs? Don't forget to report that income! Steal a car? Better disclose the fair market value as a capital gain!

@@matthewcohen3521 Probably the best part of IRS pub 17!

French ?

@@xenio8736 Close, Danish.

"You had a deficit? Mmm there's a tax for that" - A very oversimplified man

Software companies reading 2024 US tax code: Uhhhhhhh that's happening now

Unity trying to put a price tag on individual game downloads even if that game is f2p be like:

Except the glitch isn’t related to tax (but not having to pay much tax is a nice bonus). It’s owning so much that as a shareholder or rentier, you can almost immediately buy more assets for your dividends and rentier income. The speed of growth thus keeps accelerating until you own everything. I’ve played Universal Paperclips, I see the signs

Honestly, I'd love to see all the yanks in the comments react to how taxes work in a country that isn't the US 🤣

So if the company OWNS the pool and films there, but lets Linus use it...... Then it's an employee benefit and Linus(The person) has to pay taxes on his employee benefits.

That's out of context tho. He doesn't want to run air conditioning for his server room in the winter because it's dumb. If he turned on the heating, he's dumping energy into the room he's trying to cool, which is counterintuitive. Cooling the room is a priority because the heat generating components constantly... increase the room temperature.

@@hhhfghhh ah right i get it