Deduct. And the USA is taking the world in completely the opposite direction from where it needs to go.
YSK that americans can now deduce private jet expenses from their taxes
Submitted 21 hours ago by henaw2@lemmy.world to youshouldknow@lemmy.world
https://www.cnbc.com/2025/07/14/tax-cuts-private-jets-big-beautiful-bill.html
Comments
floofloof@lemmy.ca 20 hours ago
RestrictedAccount@lemmy.world 16 hours ago
It would be nice if we could deduce them.
dil@lemmy.zip 2 hours ago
We couldve been a flight based country instead of cars if we went in another direction, when we had more pilots than planes
Typhoon@lemmy.ca 15 hours ago
The law, in its majestic equality, allows rich and poor alike to deduce private jet expenses from their taxes.
0_o7@lemmy.dbzer0.com 41 minutes ago
Made for the
rich whitepeopleTaldan@lemmy.world 9 hours ago
To be fair, you don’t have to be rich to buy a Cessna 150. $35,000 can get you a nice old one
Issue is with taking advantage of the tax benefits
aphonefriend@lemmy.dbzer0.com 4 hours ago
You realize that a majority of Americans don’t have more than 1,000$ in their savings accounts?
dil@lemmy.zip 2 hours ago
Maybe this somehow makes them start manufacturing planes again, remember seeing those homelesss pilot photos when they had a surplus of pilots and not enough planes or ppl taking flights
Can’t find an image on google was “will fly for food” or something like that.
schwim@piefed.zip 9 hours ago
I don’t think that word means what you think it means.
turdburglar@piefed.social 17 minutes ago
indeductable!
thfi@discuss.tchncs.de 20 hours ago
Finally! Do you have an idea how expensive those things are and how much my wage slaves must work for that?
Taldan@lemmy.world 9 hours ago
The cost ranges from $30,000 to over $100M
quick_snail@feddit.nl 12 hours ago
YSK that eating the rich is a nutritious way to redistribute wealth
SkaveRat@discuss.tchncs.de 7 hours ago
Way too much fat
nonentity@sh.itjust.works 16 minutes ago
Don’t eat shit, mulch the rich.
chillpanzee@lemmy.ml 11 hours ago
It’s bonus depreciaton, not expenses, and it’s a business tax benefit, not an individual tax benefit.
Businesses can, and for a long time, have been able to deduct aircraft expenses. Nothing has changed there, and it’s not unique to this turd of a president. The return of bonus depreciation lets them depreciate faster, but again, depreciation is not new. It’s reasonable to removed about that, but you have to get every fact wrong to make that complaint.
Treczoks@lemmy.world 9 hours ago
And let me tell you how this works with cars. With planes it is the same, except that the savings are even better.
A real rich person owns no cars. He owns a car sales company. That company has a few select cars, which the rich person can “test drive” whenever they like. If the prime time of a car is over, the car is sold and a new one is bought. The car sales company pays for everything: purchase, insurance, taxes, fuel, cleaning, etc. Of course, this company does not make any profits. On the contrary. So the rich person pays for these losses, and those payments are tax deductable.
BanMe@lemmy.world 4 hours ago
This also applies to houses, boats, and inevitably surrogates now that they’re using them like pack mules.
IWW4@lemmy.zip 4 hours ago
I am pretty sure this isn’t new. Air travel is like any other business travel expense, and plane are an expense like a plumbers van is…
HeyThisIsntTheYMCA@lemmy.world 27 minutes ago
Yeah, I was going to say I deducted airplane expenses for a client for twenty years
ButtermilkBiscuit@feddit.nl 20 hours ago
For example, a $3 million aircraft purchase – of America’s favorite business jet, the Pilatus PC‑12 – could potentially lower your tax liability by over $1 million if you’re in the 35 % bracket. This isn’t just savings; the Big Beautiful Bill private aircraft subsidy offers financial strategy at its finest. You can read more about the tax benefits of private aircraft ownership in our special report here.
Thanks magats
AA5B@lemmy.world 1 hour ago
Certainly a bigger problem is how someone who can afford over $1M private jet would be in only the 35% bracket
HeyThisIsntTheYMCA@lemmy.world 21 minutes ago
I’m out of the loop did they get rid of 39%?
HK65@sopuli.xyz 19 hours ago
The PC-12 is a turboprop, not a jet, though.
It’s a leech hauler alright, but not a jet.
EndlessNightmare@reddthat.com 8 hours ago
The distinction isn’t relevant to the point being made. Although the article title says “jets”, the body of the article uses the more generic “aircraft.”
TommyJohnsFishSpot@lemy.lol 10 hours ago
Lemmutts love speaking authoritatively about things they don’t actually know.
Carighan@piefed.world 17 hours ago
Buy two! Save double!
who@feddit.org 21 hours ago
Gross.
sirico@feddit.uk 19 hours ago
You allowed this before proper health care because that’s Socialism? Communism? Gay?
Taldan@lemmy.world 9 hours ago
To be fair, America has the best aviation infrastructure in the world, and it is almost entirely socialized. So we do socialism sometimes
JensSpahnpasta@feddit.org 17 hours ago
Thank you, government. That is really an improvement of my life!
corsicanguppy@lemmy.ca 20 hours ago
deduce private jet expenses
I can deduce it right from a receipt, if they give you one.
Hathaway@lemmy.zip 13 hours ago
Ah, and only 90% of gambling loses. Looks like another point against the poor.
Not that I’m condoning gambling, but, weird how those things impact polar opposite sides of the wealth gap.
quick_snail@feddit.nl 12 hours ago
In my experience, poor people gamble a lot. I’ve never seen a rich person buy a lottery ticket
IronBird@lemmy.world 3 hours ago
rich people gamble plenty, they just call it investing and get way more tax write offs for doing so
Hathaway@lemmy.zip 12 hours ago
That’s the point. Poor people gambling can’t write off their losses on taxes. Well, they can, just only up to 90%. Rather than all of it like it has been.
Tar_alcaran@sh.itjust.works 12 hours ago
Wait, if you buy a 10 dollar scratch card, you can deduct 9 dollars from you income for tax purposes?
some_kind_of_guy@lemmy.world 11 hours ago
You think the people buying scratch tickets are itemizing? Idk, maybe they will, they’re not the brightest
MissingGhost@lemmy.ml 15 hours ago
Why not make it be for bicycle repairs instead?
iamericandre@lemmy.world 11 hours ago
Only poor people ride bikes that’s why
njordomir@lemmy.world 12 hours ago
If I get write-offs for my bike collection, I will also be stimulating the construction sector as I barely have room to store them all as it is. :-D
Deceptichum@quokk.au 17 hours ago
lemmy_get_my_coat@lemmy.world 17 hours ago
Just the one that he does the Hitler salute with, silly
melsaskca@lemmy.ca 15 hours ago
Kash Patel is gonna make a killing!
nonentity@sh.itjust.works 16 minutes ago
Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.
Corporations are the only ‘persons’ which should be subjected to capital punishment, but billionaires should be euthanised through taxation.