How Wealthy and Corporate Operators Deduct Luxury And Travel Lifestyle Business Expenses. pt 2

This video explains how wealthy individuals and businesses can deduct a luxury and travel lifestyle as business expenses. While entertainment expenses are generally not deductible, expenses for activities that include team-building exercises are. Standard travel expenses such as travel tickets, secondary transport methods, baggage fees, mileage on personal vehicles, lodging, and meals are all deductible. The wealthy can deduct expenses for high-priced image building, surgical procedures, personal security, and accessories, including jewelry and pets. Additionally, leisure activities such as golf, tennis, fishing, or scuba diving can offer many potential tax savings if the right business discussions are had. Though it may seem unfair, these deductions are legal and available to asset-rich operations.
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