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You Deducted What?! [INFOGRAPHIC]

March 21, 2012
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I’m so proud of Megan for filing her taxes early. She was adamant about working on them on her own but I knew I had to step in when she asked me if she could write off her sneakers.

“Sneakers??” I asked.

“Yeah, I use them to run from class to class every day. They’re just as important as my textbooks! Can’t they go under school expenses?”

That was actually a valid question, but I didn’t have an answer for her! I ended up doing some research on tax deductions and found a few odd and eccentric ones. I’ve compiled them all into an infographic, You Deducted What?! Devious Deductions and Eccentric Tax Evaders. Below are some of the facts that I included:

Strangest Legitimate Deductions

  • Bodybuilders can deduct body oil as a legitimate business expensive because they use it to highlight their muscles during competition.

Failed Tax Deductions

  • A businessman tried to deduct a mink coat as a business expense because he claimed it was a conversation starter when visiting with clients.

Celebrity Tax Evaders

  • Judy Garland actually owed the IRS $4 million!

Make sure to check out my tax preparation coupons before April 17th!

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