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In Tax today, I learned that drug dealers are allowed to deduct the cost of goods sold from their taxable income.

I am not kidding.

Old news

But as soon as they do, they goto jail.

In my town, there are "drug stamps" to buy. You put them on drugs. It's all done anonymously, and you can't be arrested for buying the stamps (which are rather expensive). What's the catch, then? If you are caught with drugs that don't have the drug stamps on them, you have an extra few hundred (or thousand) dollars added to your fine.

SCORE ONE FOR TEH SMART POLICE!

Sr.mal wrote:But as soon as they do, they goto jail.

I think that the deduction if for drug dealers that get caught. They still have income, and the rationale is that they should be allowed a deduction for the expenses incurred in generating that income, like everyone else gets.