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The Have Yachts
(lemmy.world)
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this post was submitted on 29 Apr 2024
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So many people think "tax deductible" literally means you subtract it from your taxes.
It's still a hefty discount
"Tax creditable" just doesn't have the same ring.
Might as well be, if they use it for work it counts. My boss bought a luxury RV for our company, he's the only one whose ever used it but technically there is a contract if a customer wants to rent it. Not that anyone was ever instructed to actually shill it.
That means it's a business expense, not that you can literally deduct 100% of it from your taxes.
That's fraud, you can report it to the IRS