Comment Re:Well, Congress helped anyway. (Score 2) 229
I'm a tax professional, and I can tell you this is the exact sort of thing they try. You think they are afraid of an audit? That's why they pay CPAs and lawyers.
Oh no, Mr. Tax Man. That isn't my private jet. It's owned by a holding company that just happens to be under my sole control.
I contract it out to anyone in the public. True, it isn't very profitable, and my net operating losses help cover my profitable business.
On the bright side, when I "contract" it to take me to Barbados it never seems to be booked!