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Seven Unusual Tax Deductions
15 Mar 2015 20:23 #1
by otisptoadwater
I can explain it to you but I can't understand it for you.
"Any man who thinks he can be happy and prosperous by letting the Government take care of him; better take a closer look at the American Indian." - Henry Ford
Corruptissima re publica plurimae leges; When the Republic is at its most corrupt the laws are most numerous. - Publius Cornelius Tacitus
Seven Unusual Tax Deductions was created by otisptoadwater
It's that time of year again...
March 6, 2015
We have all heard cases of strange failed tax deductions, such as writing off a personal racehorse as a business entertainment expense, a toothless actor being unable to write off his dentures, and our personal favorite – a business owner who had his store burned by an arsonist, claimed the insurance as income, and tried to deduct the arsonist’s $10,000 fee as a business expense. Some people just don’t know when to stop.
However, there are more than a few odd tax write-offs that do manage to pass IRS scrutiny, or are later approved by the Tax Court. They probably will not apply in your case, but who knows….
Read more...
March 6, 2015
We have all heard cases of strange failed tax deductions, such as writing off a personal racehorse as a business entertainment expense, a toothless actor being unable to write off his dentures, and our personal favorite – a business owner who had his store burned by an arsonist, claimed the insurance as income, and tried to deduct the arsonist’s $10,000 fee as a business expense. Some people just don’t know when to stop.
However, there are more than a few odd tax write-offs that do manage to pass IRS scrutiny, or are later approved by the Tax Court. They probably will not apply in your case, but who knows….
Read more...
I can explain it to you but I can't understand it for you.
"Any man who thinks he can be happy and prosperous by letting the Government take care of him; better take a closer look at the American Indian." - Henry Ford
Corruptissima re publica plurimae leges; When the Republic is at its most corrupt the laws are most numerous. - Publius Cornelius Tacitus
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