Hmmm... I wouldn't say I'm rich, but my accountant is creative when it comes to tax, and rightly so. I completely agree on the handbags thing, Ferraris are a

Hmmm... I wouldn't say I'm rich, but my accountant is creative when it comes to tax, and rightly so. I completely agree on the handbags thing, Ferraris are a different matter - if you have a means of moving that cost from being a taxable depreciating asset to a tax writeoff then go for the latter. I know an entrepeneur who leases high end sports cars through his companies as a means of reducing tax liability. YMMV though (pun intended, sorry)