5 Unusual Income Tax Deductions
Today’s the day I get together with my tax guy to file my income tax return. Yeah, that’s something I always looks forward to. Not.
If you itemize your deductions this is something you should be doing all year – thinking about the things you buy and you need in your line of work that you could declare as a tax deduction. You never know. The worst the IRS can say is no, right? Here are some unusual tax deductions the IRS actually approved.
Cat food. A couple who owned a junk yard said the cat food they set out for wild cats was necessary for their business. The cats drove away the snakes and rats in the junkyard making it safer for customers. The IRS agreed.
Moving the family pet. If you’re changing jobs – the IRS often will allow the cost of moving your pet – a cat, dog, horse – whatever. It’s treated the same as other personal effects.
A couple who owned rental property bought a plane to check on their property instead of having to drive the seven hours to get there. They included the cost of gasoline and the depreciation on the value of the airplane and even though having the plane increased their overall rental loss – the IRS allowed it as a business expense deduction.
A man with emphysema was told by his doctor to start an exercise regimen. So he put a pool in his backyard – swam in it twice a day and improved his breathing capacity as a result. He was allowed to deduct the cost of the pool, pool chemicals and heating as a medical expense.
And body oil. A professional body builder claimed body oil made his skin glisten during competitions. He was allowed to claim it as a business expense.