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The good news is that my Porsche is deductible.
The bad news is that I pay much more in taxes each year than the typical person earns, in a year. Ive been looking for ways around this but have never found it.
A couple of years ago I got audited because I deduct as much as I can.
The Porsche actually flagged the audit, in a way.
I went down and met with the tax people in this simple, non-descript building with plain white walls and wooden tables and chairs. Apparenly the IRS likes to keep things downplayed.
Bottom line is that I came out 100% clean. I had all of my receipts and each deduction was accounted for. These 2 tax people grilled me for 60 minutes and I had a receipt for everything. It was beautiful.
The lesson is to keep all of your receipts and account for everything.
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