Benjamin Franklin once famously said, “In this world, nothing can be said to be certain, except death and taxes.” While he was mostly
correct, what Franklin didn’t mention is, come tax season, it’s also guaranteed people will try just about anything to avoid forking over their hard-earned Benjamins.
While no one likes to pay taxes, most people can’t argue with the fact that they benefit from many of the services taxes provide. What you pay in goes towards things like your local police force and fire department, road and infrastructure improvements, and public libraries, parks, and schools. These services and goods benefit your community as a whole. You may not like
paying taxes, but there’s a lot to be gained. And what makes tax season better? Tax deductions.
Accountants tell all
We reached out to some of our accounting partners to find out the strangest tax deduction asks they’ve encountered. What we got back was pure gold. Here are some of our personal favorites:
- Can I deduct a $7,000 trip to a male strip club as a marketing expense? I took some potential clients with me.
- Can I deduct my butt implants?
- Since I take my child to work with me, can I deduct diapers as office supplies?
- Can I deduct purchases made at a local sex shop on my taxes?
- Can I deduct bedding and other bedroom furniture, since I work from my bed at night sometimes?
- Can I claim my fish as dependents and their nanny as an expense?
- Can I buy gift cards for my groceries and say they are clients gifts?
A tax deduction for pools, procedures, prosecutions
These may seem crazy, but sometimes you just have to ask. You never know. They might be legitimate to the IRS
Take, for example, the stripper who claimed a $2,088 deduction for breast enhancements back in 1988. The woman was initially denied the deduction, but after appealing, the tax courts ruled the procedure was, in fact, a business expense. The ruling paved the way for others in the industry to possibly write off cosmetic surgery or other procedures that could make them more money in their business ventures.
And it’s not just adult entertainers. Even criminals can claim crazy deductions. As it turns out, if you are caught committing a crime, you may be able to write off your legal defense fees.
Enhancements and criminal defense make some
sense. But surely a backyard pool can’t be considered when tax deduction? Turns out, it can. If you have a medical condition that a swimming regimen can help alleviate, your pool may qualify as a tax deduction. Just make sure to get the prescription in writing.
Regardless of the crazy deduction you want to claim, talk with your trusted tax professional regarding what tax write-offs you may be eligible for. It just might save you some cash, and if it doesn’t, you might see your ask on our blog post.