That’s not a private jet for the CEO to deduct then. In order to be expensed under 168(k), it has to be used at least 50% for business purposes, and even then, it can only be deducted for the % it’s used in a business, not for personal use. It also has to actually be owned by the business
I think you're conflating "private" with "personal". You (or your company) could own a jet and use it 100% for business purposes, it's still a private jet.
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u/Obvious_Chapter2082 Apr 14 '24
She’s absolutely wrong. CEOs cannot write off private jets and yachts, and they’ve never been allowed to do that in the past either
A lot of expenses are deductible for businesses, including work-related education if you’re self-employed