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Don't know how it works in the US but here if you own property or cars etc. through business you can't use them for personal reasons and if you get audited this
by moonchrome 5y ago
Don't know how it works in the US but here if you own property or cars etc. through business you can't use them for personal reasons and if you get audited this is considered tax evasion. I would be surprised if the US is any different.
- GDC7 5y agoThis is very much like the speed limit on highways. You can't put a private investigator on the tail of every business owner. Personal expenses will be justified as business expenses, it's a matter of catching the very big and obvious cases, doing it so very publicly with the help of the press and try to scare all the other business owners in order to scale down the amount of personal expenses that they claim as business expenses
- Aerroon 5y agoBut the non-obvious cases will also be the one where only a fraction of the assets in personal use will be owned by the business. Depending on the size of the fraction it might very well be not much different than what regular people do (eg using a company laptop to watch YouTube at home).
- deleted 5y ago[deleted]