MSNBC Stephanie Ruhle Reports June 4, 2024 13:45:00
Propublica investigative reporter. our tax code allows sports team owners to take deductions on team assets, like their cars that depreciate in value. you don't get to deduct your car. walk me through how this works. >> so the original idea, right, is if you have a widget factory, you purchase a widget-making business, you know, over time the assets that make up that business, the widget conveyor belt, the widget maker, are going to break down and you're going to have to replace them. they lose their value. so for sports teams, though, the assets are media deals and player contracts and franch...
Source: archive.org