Saturday, December 2, 2017

Tax "Reform" Will Result in a BIG Tax Break For You, If.... own a private jet.

I do not believe this tax break applies to auto maintenance even if you drive very fast, but check with your accountant.



  1. Will this affect the market for flying cars?

  2. Standard deduction for individuals increases from $6,000 to 12,000 and for couples from $12,000 to 24,000. Corporate tax rate cut from 35% to 20%. Obamacare mandate abolished. But instead of reporting this he focuses on trivialities.

    1. Yup. Rand Paul's on board, too. Surprised we haven't seen a "Bob Corker: Heroic" post yet.

  3. I assume we'll get a complete breakdown of this latest "reform" within the next couple of days?

  4. In a way, some do. IRS allows mileage deductions for business & charitable purposes - which includes, as I understand it, factors for maintenance, insurance, gasoline, and "wear-and-tear" costs. While not entirely equivalent to the proposed language in the bill under discussion, it doesn't strike me as all that different in nature...