Monday, January 22, 2007

Try that Funky Tax Deduction, White Boy (on second thought, don't)

Jay McDonald of Bankrate has come up with nine doggone wacky attempts at tax deductions (and doggone IS appropriate; three of the "deductions" involved canines). His list: [1] mortgage interest for a condo used by a mistress, [2] doggy day care, [3] a landlord claiming wedding expenses as improvements for invited renters, [4] a $300 breast pump for a nursing mother, [5] a dog pulling construction supplies as an independent contractor, [6] claiming personal meals and entertainment as business expenses (but note the comic book deduction that worked), [7] donating a breeding-age dog to the Humane Society (however, costs of breeding show dogs may be deductible if fees earned from breeding are sufficient to escape hobby status), [8] claiming business attire as work-related clothing (work-related clothing deductions only apply if the item generally could not be worn except as part of a job), [9] a "tricked-out" Amish buggy.

Hopefully, none of my readers with tax clients will have any who try deductions which are this outlandish. Although I can sympathize with the desire to reduce taxes, the means here are generally not appropriate.


Post a Comment

<< Home

My blog is worth $7,903.56.
How much is your blog worth?