> Dude people buy jets and Teslas as a business expense. super common. […] arguing (and using) something as a business expense or an investment is not fraudulen

> Dude people buy jets and Teslas as a business expense. super common. […] arguing (and using) something as a business expense or an investment is not fraudulent. This is just bad advice for two reasons: (1) Teslas and jets are terrible investments for someone who’s less than filthy rich. (2) Tax fruad is when you claim business expenses and then use items for personal activity. It’s only not fraud if the things you buy are used exclusively for business reasons. If you start buying lavish things and use them for yourself, it is fraud and you are subject to a Tax audit that could land you fines or jail time. Happens all the time. You shouldn’t listen to stories of people gaming the system and getting away with it.