Private Jets Ownership Now Tax-Advantaged
Why the Big Beautiful Bill’s Private Aircraft Subsidy is the Green Light for a New Era of Travel — And How Boomerang is Making It Happen
Private aircraft ownership has never been more achievable – and now is the time to act. With Donald Trump’s landmark Big Beautiful Bill ushering in unprecedented
I’m always terrified to write stuff off because I fear I will accidentally write something off that I’m not really allowed to due to some obscure legalese and then I will get audited in 5 five years and owe 10 grand in late fees and interest or some shit.
It’s not too bad as long as you’re not a dick about it. One year I marked myself as head of household instead of single. I’m not even sure why I did it. I only thought “huh, this saved a lot on my taxes”, and really had no idea what I was doing. They sent back a correction and how much i owed. I paid and that was it. Not scary at all.
Of course in today’s world all about spite and punishment I could imagine it being much worse
Yeah, I’m a sane world you just get a letter explaining where they think you made a mistake, and you can either pay the difference or provide evidence your position is correct. All done by mail.
And before anyone thinks we should try the new irs now that auditing and collections have been purged, that won’t work for us. The vast majority of us have long since faced automated auditing. The computers are still there.
It’s only the wealthy with vastly more complex tax situations requiring teams of auditors to look at, that now have more opportunity to cheat on their taxes
In most countries for average people if you can make a convincing argument about why you thought it would be allowed and can argue it with a straight face they arent interested in nailing you over it because it isnt worth their time.
I asked my accountant “Hey, when I take sick leave at work and I have to get a doctors certificate to get paid for those days, does that make the doctors visit a work expense?”
He said “Thats a legitimate enough argument that if you want me to I’ll put them on your return. Dont know if it would pass an audit but the reasoning is solid”
I’m always terrified to write stuff off because I fear I will accidentally write something off that I’m not really allowed to due to some obscure legalese and then I will get audited in 5 five years and owe 10 grand in late fees and interest or some shit.
It’s not too bad as long as you’re not a dick about it. One year I marked myself as head of household instead of single. I’m not even sure why I did it. I only thought “huh, this saved a lot on my taxes”, and really had no idea what I was doing. They sent back a correction and how much i owed. I paid and that was it. Not scary at all.
Of course in today’s world all about spite and punishment I could imagine it being much worse
Yeah, I’m a sane world you just get a letter explaining where they think you made a mistake, and you can either pay the difference or provide evidence your position is correct. All done by mail.
And before anyone thinks we should try the new irs now that auditing and collections have been purged, that won’t work for us. The vast majority of us have long since faced automated auditing. The computers are still there.
It’s only the wealthy with vastly more complex tax situations requiring teams of auditors to look at, that now have more opportunity to cheat on their taxes
I too get nervous every time I do my taxes but I figure if I’m honest about it they’ll forgive most mistakes
In most countries for average people if you can make a convincing argument about why you thought it would be allowed and can argue it with a straight face they arent interested in nailing you over it because it isnt worth their time.
I asked my accountant “Hey, when I take sick leave at work and I have to get a doctors certificate to get paid for those days, does that make the doctors visit a work expense?”
He said “Thats a legitimate enough argument that if you want me to I’ll put them on your return. Dont know if it would pass an audit but the reasoning is solid”