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Re:Netflix Made Record Profits in 2020, Paid a Tax Rate of L... by valuearb on Monday April 05, 2021 @12:25PM (#26701028)
Personal expenses are just that, personal. While some have a limited effect on your ability to earn a living, most are just consumption.

Business expenses are almost always only the costs of actually generating revenues. Thats why there are strict limits on travel & entertainment deductions. Of course there are always exceptions, does the company need that private jet? But their accountants have to justify private jets, etc to ensure the company doesn't face tax fraud charges.

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