WEAR - Search Results
Strange but legal tax deductions
Tax season is in full swing, and people are trying to deduct all that they can.
Over the years the courts have allowed a few of your fellow taxpayers to deduct some crazy things that most of us wouldn't even dream of claiming.
ABC's Chief Business and Economic Correspondent Rebecca Jarvis has more on the odd, yet legal, deductions.
Most taxpayers have no idea of the vast number of deductions the IRS allows us to claim--or just how wacky some of them are.
Savvy filers probably know they can deduct moving expenses--especially related to a new job--but the cost for packing up puppy and kitty then shipping them cross country: That's deductible, too.
Steamy hot tubs and luxurious swimming pools--not just for the rich and famous.
If you've got a medical condition that a good soak--or swimming regimen--could help--those could qualify--as long as you've got a doctor's note.
Kathy Pickering: "A body builder wanted to know if he could take posing oil as a legitimate
Business expense for his business and in that set of circumstances that was ok."
Into whaling? For the past decade, whaling captains can deduct up to ten grand in ship repairs, equipment and other related expenses.
Even criminals are getting in on the action.
They're technically required to pay taxes on any ill gotten gains--think Al Capone and tax evasion--but what you may not know--once caught--they might qualify to write off their legal teams.
And then there's music therapy--not for the ears--but for the mouth--thanks to a 1962 provision added after orthodontists argued playing the clarinet helps with a child's overbite.
So tally up the cost of the instrument--and those lessons--and deduct away.