Photo: Instagram/Kylie Jenner (Composite)
Kylie Jenner isn’t just a reality star, influencer, and cosmetics boss. She’s a business mogul worth an estimated $750 million and was even, for a full year, a proper billionaire. Guess who’s paying for her private jet?
Do you know what else the billionaire lifestyle entails? The answer is a complete write-off of the private jet. This has actually been common practice among the world’s one-percenters based in the U.S., who are making ample use of a legal loophole to offset the expense of a private jet by claiming it’s essential in their pursuit of business.
The practice has become so widespread that the IRS is said to be considering methods to counter it, while activists are asking to have millionaires’ private jets taxed to the ground, if not altogether banned. Not only are private jets 5 to 14 times more polluting than commercial planes per passenger, but passengers of commercial planes are also paying more for the “right” to travel by air than millionaires do.
Photo: Instagram / Kylie Jenner
To have them write off their flying playthings feels like a slap in the face when you’ve already been knocked down. Owning and flying by private jet is unnecessary, over-indulgent, and too costly for everyone else – but the person who’s doing it.
This is exactly what Kylie Jenner did, according to a new report that’s gone viral. Haley Sacks, who goes by Mrs. Dow Jones online, aka “the Zillenial finance expert” and a self-described “financial pop star,” claims that the younger of the Kardashian-Jenner clan wrote off her private jet within a year of acquisition.
All she had to do to use the legal loophole was prove that she used it 50% of the time for business, and she did that by filming the family’s reality show onboard, posting promotional selfies and makeup tutorials from the plane, and conducting business meetings in the air. It sounds more like fun-times than actual business, but this is business for Kylie.
Jenner rakes in $130 million a year, and $5 million of that goes into the maintenance and operation of her private jet. But at least she knows she recouped the $72.8 million she paid for it – within a year, no less – by writing if off completely as a business expense. The same finance expert details the exact loopholes Jenner used in the video below.
