Birdwatch Note Rating
2024-12-21 21:30:36 UTC - HELPFUL
Rated by Participant: 069564CA9AA81B89611AD13139BFA97B8806A920296193EAE2F763499A81CC97
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Original Note:
Billionaires can't write off the full cost of jets/yachts. They're depreciated over years per IRS rules. https://www.irs.gov/publications/p946 Teachers have a $300 deduction cap for class supplies, but can itemize more if they exceed this. https://www.irs.gov/taxtopics/tc458 This doesn't fully depict an oligarchy; tax laws are complex for both.
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