Tuesday, April 10, 2012

The Most Outrageous Attempted Tax Deductions

The New York Times ran an article April 3 titled “What’s the Easiest Way to Cheat on Your Taxes?” While that title was thought-provoking enough — and the article is certainly worth a read — one of the most entertaining segments was on the most ridiculous attempted deductions.

Author Jacob Goldstein broke down the deductions into two groups — “Relatively Common, Somewhat Ridiculous” and “Less Common, More Ridiculous.” Goldstein pointed out that none of the following items are actually tax deductible.
Relatively Common, Somewhat Ridiculous
  • Gym memberships and country-club dues
  • Cosmetic surgery
  • Haircuts
Less Common, More Ridiculous
  • Thong underwear (for an actress who needed to avoid visible underwear lines)
  • A wedding (under the rationale that clients were invited)
  • Vet bills (with the pets listed as dependents)
What crazy deductions have you seen or heard about?

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