I don’t know your exact circumstances but it sounds like your “decent accountant” was helping you commit tax fraud.
You would not be able to (legally) do that today
Thanks for not immediately going on the attack.
Some other professional got royally screwed - e.g. a concert violinist can no longer deduct a $50,000 violin purchase if they're employed by an orchestra as a W2
That's why I say we should have accountants.
I'm always thrilled to have strangers on the Internet attack me, and even attack an accountant that they never even heard about before. Thanks!
Have a great day!
Have a great day, or whichever passive aggressive sign-off you'd prefer!