It is Tax Day and my envelope is sitting in my car to deliver them to the post office today so the date stamp is April 15th. Don’t want a red flag popping up on my taxes.
How about you? Some answers from accountants that could keep you out of trouble!
Accountants are warning pet owners not to claim their dogs as dependents.
Dallas CPA F. Howard says, “I had a guy come in one time wanting to know if he could deduct the cost of his dog food. His reasoning was that his dog was security for his house, therefore the dog food became a security expense. I kind of liked that one. The IRS loves that stuff.”
Some Americans are trying to deduct their weight loss programs from their taxes. A woman cannot deduct her breast enlargement surgery from her taxes unless it was done for medical purposes. Some exotic dancers try and claim their breast implants as business expenses.
Botox, liposuction, nose jobs, fake breasts and hair transplants can all be written off as long as it can be shown that the procedure was beneficial to the patient’s mental health.
Some singers are writing off their Voice and American Idol auditions as a business expense. The reality show tryouts are being classified as either a ‘business trip’ or ‘job interview.’ Accountants say the cost of plane tickets, food and lodging can all be legally deducted.
Fox News claims the IRS could use Twitter and Facebook to catch tax cheats. Those, who use social media to brag about not paying their taxes could be caught.
A survey by NerdWallet reveals that 30% of men and 18% of women feel it is acceptable to not report under-the-table income to the IRS.
A survey by Wallethub reveals that 31% of people say their biggest tax day fear is making a math mistake on their tax form.