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Saturday, March 19, 2016

Guest Post - Crazy Tax Deductions

I am pleased to post a guest blog from Colette Cassidy of All Finance Tax to bring some humor to filing season by reminding us of:

The Craziest Tax Deductions That Worked - Infographic

With less than a month to go until April 15th, the dreaded Tax Day, millions of people across America are frantically putting together their tax returns for the year. It’s not the most enjoyable of tasks, but it just needs to be done. Many of us will deliberate on certain items that may or may not require inclusion. Some will push the boat out and seek to claim tax back on pretty much anything – a bit like the parties featured in the infographic below, which was sent to us by Irish tax consultancy company All Finance Tax (www.allfinancetax.com).

What do all of these have in common, aside from all attempting to deduct tax on the most left-field of items? All of them succeeded, from the business owner whose company sponsored his motocross-racing son to the woman working from her condo who claimed that her work was being disrupted by noise from barking dogs in neighboring residences. In many of the cases featured, the IRS tried to put the foot down and say no, only to be overruled by the Tax Court.

This infographic provides an interesting and slightly bizarre roll call of some of the people who had the gumption to seek out the unlikeliest of tax deductions, stuck to their guns and were ultimately rewarded for it. That’s not to necessarily say that wacky tax deductions will work all of the time, but these cases show that it’s worth taking the time to go through all of your expenses and see which ones can be claimed back.



What do you think?

2 comments:

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