True, and broadly deductions, but deductions are very different.
For example, owning my house, the taxes do not care that I pay insurance and property tax on it. They do not care if I have to spend $10,000 on HVAC because it went out.
However, if I own a house that I rent out, I can deduct all of that. And this is ignoring the standard deduction, you can deduct this stuff on top of the standard deduction.
I think this is the sort of BS, that a business can wave away most any expense but a private citizen just has to suck it up.
True, and broadly deductions, but deductions are very different.
For example, owning my house, the taxes do not care that I pay insurance and property tax on it. They do not care if I have to spend $10,000 on HVAC because it went out.
However, if I own a house that I rent out, I can deduct all of that. And this is ignoring the standard deduction, you can deduct this stuff on top of the standard deduction.
I think this is the sort of BS, that a business can wave away most any expense but a private citizen just has to suck it up.