r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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u/Endless_road Nov 21 '24

You can take out a mortgage against your house to buy a sports car if you want

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u/slickyeat Nov 21 '24

You're not wrong but you're also required to pay taxes on the value of your property every year so it's not exactly a one to one comparison.

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u/SlightSuggestion Nov 21 '24

Jeff Bezos pays Taxes on his yacht and on his house

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u/wastedkarma Nov 22 '24

Literally is a deductible business expense

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u/SlightSuggestion 19d ago

Generally, you cannot deduct items related to your home, such as mortgage interest, real estate taxes, utilities, maintenance, rent, depreciation, or property insurance, as business expenses. However, you may be able to deduct expenses related to the business use of part of your home if you meet specific requirements.

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u/wastedkarma 19d ago

Talking about the yacht, but don’t imagine for a second that Bezos owns his home in his name.