Monday, October 4, 2010

Extraordinary Tax Deductions

Sometimes, despite objections from the IRS, taxpayers get to write off the darndest things. Here are our favorites.
Okay, admit it: As you've struggled with your tax return, trying to come up with some extra deductions to pump up your refund or reduce what you owe Uncle Sam, you've taken a few flights of fancy. "Can I claim a deduction for all those blood donations at the Red Cross?" Nope. "How about a charitable contribution for all the time I donate to the church?" No, again. "Can I count the wedding gift for my boss's daughter as an employee business expense?" Come on!

On the other hand, over the years your fellow taxpayers have successfully claimed write-offs for many things that most of us wouldn't dream of taking. Here's our list of what we think are among the most imaginative deductions allowed, ranging from cat food to a casualty loss for a vehicle totaled by a drunk driver:

1. A "significant other.
2. A private airplane.
3. Cat food.
4. Moving the family pet.
5. Body oil
6. Restitution in a fraud case.
7. Wrecking a car while driving drunk.
8. Free beer.
9. A business meeting in Bermuda.
10. Baby-sitting fees.
11. Landscaping.
12. Swimming pool.

Kiplinger.com

No comments:

Post a Comment