Most Ridiculous Tax Deductions
The Minnesota Society of Certified Public Accountants recently surveyed its CPA members about the most creative tax deductions proposed by their clients. Here are some of the most memorable responses from the MNCPA's annual list of strange and unacceptable tax deductions for 2012.
A ballerina was surprised to discover that she couldnt deduct the cost of a tummy tuck.
A New Wrinkle
One womans attempt to deduct BOTOX expenses as an image enhancement expense? Not a smooth move.
Sing us a song, youre the piano man. Just dont try to claim your manicures as a business expense, as one piano player proposed.
Beware of the Very Small Dog
A farmer who tried to claim food and veterinary expenses for his toy poodle as a farm-building guard dog was barking up the wrong tree.
Not a Deduction? Bingo!
One woman took a chance on deducting gambling losses as a charity donation. Mark that down as another gambling loss.
Off the Deep End
Many reasons for deducting the cost of a swimming pool were offeredincluding as a medical expensebut they didnt float.
Children Need to be Seen
While children/dependents are considered an acceptable deduction, one filer failed to realize that he needed to actually have children/dependents in order to claim them.
Not a Bright Move
Try to deduct tanning-bed expenses, as one filer did, and youll get burned every time.
One woman hoped to shed some pounds and add a deduction by writing off the cost of Zumba exercise classes. One out of two isnt bad.
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