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8/12/2019 sscrazytaxdeductions-140219152340-phpapp01

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WACKY

DEDUCTIONS


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WACKY

DEDUCTIONS

Presented by:
https://turbotaxcpaselect.intuit.com/


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Click this button to tweetinformation on each slide.


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1BODY OILA professional bodybuilder wrote off

his body oil as a business expense. The

IRS wasnt having it, but the Tax Courtlet it slip by.

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2 BREAST IMPLANTSCosmetic surgery costs are usually

non-deductible. That didnt stop exotic

dancer, Chesty Love, from challenging thisrule. The Tax Court considered her 56-FF

implants a legitimate business justification.

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3SWIMMING POOLOne taxpayer had emphysema, and his

doctor ordered an exercise regime. He

installed a pool and used it twice a dayto improve his lung capacity. The Tax

Court allowed it as a medical expense.

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4RESTITUTION IN FRAUDOne dentists wife kept the books and billed insurers

for work that the dentist wasnt even performing. She

went to jail, leaving him to repay everything.

He deducted his restitution as a business expense

again. The IRS didnt approve, but the Tax Court

permitted the deductions.

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5PAYING GIRLFRIENDSOne man needed someone to manage his

rental properties and hired his girlfriend. She

was in charge of tasks such as finding furniture,overseeing repairs, and running his personal

household. He went to Tax Court and won.
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6PRIVATE PLANEOne couple bought their own

plane and used it to check ontheir rental condo daily. The IRS

didnt think it could be written

off, but the Tax Court allowed it.
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7PET FOODAnother couple owned their own junkyard. They

would routinely place cat food out to attract wild cats.The cats helped make their junkyard safer by killing

off the snakes and rats. Their food was written off as a

business expense. The Tax Court allowed it even

though the IRS thought it was ridiculous.
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8DRIVING DRUNK EXPENSESOne man drank too much at a party and arranged a

ride home. He thought he would be alright to drive a

few hours later but ended up driving off of the road

and was arrested for DUI. He had to pay for the cardamages when insurance wouldnt and proceeded to

deduct his repair costs and get away with it.
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9BABYSITTING FEESBabysitters are generally personal expenses,

but not in this case. One mother was able to

deduct her babysitting fees because sheused that time to do volunteer work. The Tax

Court logged it under charitable

contributions.

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10MOVING A PETSometimes the tax law permits writing off moving

expenses, if you meet certain criteria. This

includes the cost of moving your pet, as it is

considered part of your personal effects.
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11 HOME LANDSCAPINGOne man used his home for business meetings. In

order to keep up appearances, he had to keep his

yard maintained and repair his driveway. When hededucted the costs, the IRS didnt allow it, but the Tax

Court allowed a portion of the cost to be written off.

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12FREE BEERAn owner of a gas station decided to

give away beer instead of trading

stamps. He deducted the beer as abusiness expense.

FREE BEER

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14SEX CHANGEThe Tax Court qualified $14,500 to be deductedfrom $22,000 of medical expenses from

surgeries changing one man into a woman. They

allowed the deduction because the procedure

helped cure a disease.

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15MAKING MOVIESOne woman worked on a documentary film

for six years. She wrote off her six-figure

losses, and after some back and forth, the Tax

Court eventually allowed it. The Tax Courtclaimed that she acted in a business-like

manner, rather than pursued a hobby.

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16 DEER MEATIf you happen to hit a deer while driving in

South Carolina, the state will give you a $50tax credit for every butchered deer that you

donate to charity.

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17CLARINET LESSONSOne person wrote off her sons clarinet lessons after

she claimed that they were used to help fix thechilds overbite. The IRS approved the deduction.

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19DEADBEAT FRIENDSSome taxpayers have chosen to collect the

money they lent to friends and never got back

by writing it off as a tax deduction.

$

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20OSTRICH DEPRECIATIONAn ostrich farmer in Louisiana was able to depreciate

the cost of his ostrich. As livestock ages, farmers can

deduct the depreciated value from their income ifthe animals were used for breeding.

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Get your taxes done right, at theright price, by our CPAs - online.
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The above information is intended to provide generalized financial information designed toeducate a broad segment of the public; it does not give personalized tax, investment, legal

or other business and professional advice. Before taking any action, you should always seek

the assistance of a professional who knows your particular situation for advice on your

taxes, your investments, the law or any other business and professional matters that affect

you and/or your business.

http://www.forbes.com/sites/robertwood/2012/03/21/still-more-strange-tax-deductions

http://www.forbes.com/sites/robertwood/2012/03/19/strange-but-legit-tax-deductions

http://www.forbes.com/sites/robertwood/2012/03/20/more-strange-tax-deductions

http://www.kiplinger.com/article/taxes/T054-C000-S001-extraordinary-tax-deductions.html

http://www.usnews.com/news/slideshows/10-bizarre-tax-deductions

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Top-10-Oddball-Tax-Deductions/INF12065.html

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