Comments on: 5 Crazy Tax Write-Offs http://ptmoney.com/5-crazy-tax-write-offs/ Real Personal Finance for a Life Without Limits! Sun, 12 Feb 2012 22:37:15 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Philip Taylorhttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-31517 Philip Taylor Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-31517 I don't think so. Ask your CPA to be sure though. I don’t think so. Ask your CPA to be sure though.

]]> By: Ronhttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-18714 Ron Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-18714 As Jayle says, there are many tax deductions that are allowed especialy for business reasons. Example #5 may sound crazy but what if the young lady was a toppless dancer and she needed "bigger melons" to make more in tips, this is probably why she won in court.Example #4 the $50,000.00 wedding expense should have been flagged by his accountant right away. The tax department will question a $50,000 entertainment expense because it makes up 16% of this persons total income. Keep your entertainment expenses below 5% and the tax guys propbably will not ask any questions.Think about what you claim, if you trigger a tax audit the few thousand that you thought you were saving may end up creating a nightmare of financial problems. As Jayle says, there are many tax deductions that are allowed especialy for business reasons. Example #5 may sound crazy but what if the young lady was a toppless dancer and she needed “bigger melons” to make more in tips, this is probably why she won in court.

Example #4 the $50,000.00 wedding expense should have been flagged by his accountant right away. The tax department will question a $50,000 entertainment expense because it makes up 16% of this persons total income. Keep your entertainment expenses below 5% and the tax guys propbably will not ask any questions.

Think about what you claim, if you trigger a tax audit the few thousand that you thought you were saving may end up creating a nightmare of financial problems.

]]> By: Sanjayhttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-3939 Sanjay Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-3939 Does that mean I can get a penis enlargement and a liposuction if I were a male porn star? More reasons to consider a temporary career change! Does that mean I can get a penis enlargement and a liposuction if I were a male porn star? More reasons to consider a temporary career change!

]]> By: All About The Benhttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-1002 All About The Ben Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-1002 I had a friend ask me if he could deduct hair cuts because he needed a good hair cut for an office job. I had a friend ask me if he could deduct hair cuts because he needed a good hair cut for an office job.

]]> By: Jaylehttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-768 Jayle Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-768 I see no problem with a stripper deducting her boob job expenses. It's a legitimate business, fueled by tips. Her gross receipts definitely improve, which leads to a higher income. (and more taxes for the IRS!)My question is this:What weird deductions do IRS tax agents claim? Or do they pay taxes at all? I see no problem with a stripper deducting her boob job expenses. It’s a legitimate business, fueled by tips. Her gross receipts definitely improve, which leads to a higher income. (and more taxes for the IRS!)

My question is this:

What weird deductions do IRS tax agents claim? Or do they pay taxes at all?

]]> By: Nivekhttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-766 Nivek Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-766 I obviously need to get more creative with my tax write-offs! I obviously need to get more creative with my tax write-offs!

]]> By: Four Pillarshttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-763 Four Pillars Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-763 I think that last one is perfectly legit... :)Mike I think that last one is perfectly legit… :)

Mike

]]> By: Andyhttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-762 Andy Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-762 Too funny...wish I had thought of some of these "deductions" when I was doing my taxes and got hit with a bill.Great blog and I will be subscribing. Too funny…wish I had thought of some of these “deductions” when I was doing my taxes and got hit with a bill.

Great blog and I will be subscribing.

]]> By: teresahttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-761 teresa Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-761 Orange-Mocha-frappuccino!! Orange-Mocha-frappuccino!!

]]> By: courtneyhttp://ptmoney.com/5-crazy-tax-write-offs/comment-page-1/#comment-759 courtney Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/2008/03/24/5-crazy-tax-write-offs/#comment-759 Back waxing for "therapeutic" reasons???? Back waxing for “therapeutic” reasons????

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