You'd Be Surprised at What's Tax Deductible
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|Fri, 02-15-2013 - 11:37am|
TGIF everyone! I hope you are planning a fun and/or relaxing weekend. The weather for us will be around 75 degrees - PERFECT! I'm going out to lunch with my sister tomorrow and then we're going to shop for valances for my kitchen. She didn't like the ones I picked out - LOL! So she's going to "boss" me around to get the "right" valance. LOL! My little sister always treats me like I'm her little sister. It's hysterical. I just let her feel she's in charge - easier on both of us but I love her dearly!!
So I found this article on Yahoo and I thought it was very interesting. It's about what can be deductible that we probably don't think is possible. I copied below the one about writing off pets. Here's the link to the other strange things that can be written off ---> link
1. Can I deduct my pet?
Fido may feel like your child, but that doesn't mean he'll land you a tax break.
That said, there are rare circumstances where a pet may qualify for a tax deduction if you itemize. If your pet is a service animal for a disability that you have, the cost of buying, training and maintaining the animal may qualify as a medical expense. This typically includes vet visits, grooming and food, according to the Internal Revenue Service.
A big caveat: You can only deduct medical expenses that exceed 7.5% of your adjusted gross income in 2012. (The threshold is 10% for 2013 for most people).
What's more, you may be able to deduct costs related to a guard dog employed by your business for protection, depending on the circumstances, according to G. Scott Haislet, a CPA and tax attorney in Lafayette, Calif.