Tax write offs you should not try at home

Some people are loading up to fire some strange tax deductions at the Internal Revenue Service this tax season. Whether it is sperm contributions or some other less than savory "business" expense, do not expect such things to go undetected. Don’t take these as examples, however marvel at the ingenuity – or laziness, or lunacy – that went into these crazy tries at tax deductions. Source of article – Bizarre tax deductions to brighten your tax day by MoneyBlogNewz.

Holy travel and entertainment write offs, Batman

Bankrate states that CPA Ken Sibley knew a male who tried to claim travel and entertainment expenses as tax deductions as a minister. Apparently, the minister was looking for real estate investment properties however never found his promised land after years of trying. It was not business expenditure.

Charity does not consist of getting married

Getting married is not enough to deduct expenses. It cannot be a part of business expenditures being deducted. Massachusetts CPA explained that it is not business expense, even if clients are attended. Wedding expenses are not considered a charitable donation either since it isn't a charity.

Expense taking 30 years

Don Meyer is a New Jersey CPA. He said that one manager of a famous entertainer got a $2 million office building purchased. It would be business expense and deducted as one. The manager wanted to use it that year for it. The recovery would take over 30 years to get. This was what Meyer told the male. Even a suitcase full of money and an ominous admonition to "make it work" couldn’t change the tax law.

Taxes for life

You cannot claim pets as security expense although you can deduct things are home for business expenditures. The IRS is also not okay covering home security systems. The Hunter Group of Fair Lawn, N.J., explained this detail of the IRS. One woman said that if somebody came into her home and killed her, she wouldn't be able to pay taxes anymore which mean she should be able to deduct her home security system.

Don’t make an effort to deduct adult magazines

Dues and subscriptions for professional and trade publications might be listed as tax deductions, so long as you are a professional in an approved field. According to Quizlaw, these would go under miscellaneous as long as the 2 percent floor rule is met. This means it must account for 2 percent or more of the adjusted gross income.

A Massachusetts CPA explained that a self-employed real estate agent trying to get adult magazines written off should probably reconsider the business strategy.

Once, Don Meyer had a prostitute client. That was different. Declaring her income was important to her. She said her job was in "public relations."

Articles cited

Bankrate

bankrate.com/finance/taxes/10-craziest-tax-deductions-for-2011-1.aspx

IRS

irs.gov/businesses/small/article/0,,id=204169,00.html

Quizlaw

quizlaw.com/federal_income_tax/can_i_deduct_dues_and_subscrip.php

On deducting haircuts and sperm donations

youtube.com/watch?v=uW6HWOekZ3M