Originally Posted by
FIIGMO
Exempt any recip. under 12.5k. Anything bigger is used as a biz tax write-off anyway. Any GA taxes under that will be costly! Just ask a Canadian how much a touch and go costs!!!
I've been bothered by the tax deductibility of private jets for a long time. In fact it really p*sses me off.
Why should Tiger Woods (for example) get to deduct the cost of flying around in a Gulfstream? He should be able to deduct the cost of a full fare coach ticket. If he wants to fly any thing else: Great he can deduct the full coach fare, and pay the difference out of pocket.
Why should the US taxpayers subsidize the lifestyles of the uber-rich?