Birdwatch Note Rating
2024-12-21 21:10:14 UTC - HELPFUL
Rated by Participant: 8ED5634D68E05D40A6977734FEFF473BAEA795126EDD294AF64F2136405A05FF
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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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