Strangest Tax Deductions
The Minnesota Society of CPAs recently conducted its annual CPA member survey about the most strange and unusual tax deductions proposed by clients. The responses included everything from pets and wedding rings to gifts not given.
Here is the MNCPA's list of the best strangeand unacceptabledeductions for 2013.
-- Michael Cohn, Accounting Today
1. A fur coat worn to promote a cleaning business
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2. A wedding ring
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3. 101 dog deductions
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4. An ATV as a medical deduction for stress relief
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5. Placing a business sign on a personal automobile and writing off the car as an advertising expense
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6. A family vacation:
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7. A $1 million dollar deduction for a contribution of land without an appraisal:
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8. Infant employee
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9. A large charitable deduction for a gift not given
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10. School lunches as a business expense
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11. Claiming a home theater as video conferencing equipment
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12. Botox and tanning
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