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You Deducted What?! [INFOGRAPHIC]
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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