You'd Be Surprised at What's Tax Deductible

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iVillage Member
Registered: 11-19-2001
You'd Be Surprised at What's Tax Deductible
2
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.

 

iVillage Member
Registered: 11-01-1999

Those of us who foster through a 501(c)3 rescue group can deduct our expenses and mileage.  I save all my receipts and keep a mileage log.

iVillage Member
Registered: 06-27-2000
Now if our lazy congress would just raise the 14 cents a mile rate...

Oh say, can you see?


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