4 ms·
"and the entertainment bill was huge" Is that how it works though, 'even' in the US (where in my understanding there are a lot more options for deductions than
by roel_v 5y ago
"and the entertainment bill was huge"
Is that how it works though, 'even' in the US (where in my understanding there are a lot more options for deductions than in the European tax systems I have experience with)? Can you just deduct any expense that you can somehow however far fetched are connected to your investments? Usually once you start looking into the details, it turns out that it's not so outlandish as people (in the camp of the Pro Repulica piece, i.e. the 'tax others more' crowd) try to make it seem.
- madaxe_again 5y agoEntertainment was a poor choice on my part - it’s the hardest expense to justify, if you’re audited, but in the U.K. at least, you can write an awful lot off against costs of acquisition and disposal. For example, you can claim the mortgage interest on your primary domestic property as an allowable expense, as you can argue that you took the mortgage in order to finance your capital activities.