People have tried all manner of schemes and things to lower the amount of taxes they owe the government. But until they pass a flat tax into law, we are likely to hear more stories of the absurd and outrageous tax deductions folks try to get away with each year.
If you want a legitimate way to save money, use Groupons. Search the site before you buy anything and you’re sure to find a money saving promo code or exclusive deal you can apply right from your smart phone when you down load the app. You can save as much as 50% of merchandise depending on the site. Tires from Tire Buyer are a good example. You can save 7% off any tire or $80 off a set of 4, plus, they offer exceptional service and a business model that is guaranteed to save you time and help you make an educated decision about your purchase. That’s because the bulk of your tire buying experience is online, and have your tires shipped to a certified installer, or to your home so you can do it yourself. if you can verify that the vehicle is used for business, you can deduct the expense. And remember, Tire Buyer also sells tires for golf carts, lawn equipment and trailers, so be sure to keep records of purchases for equipment if it’s used for business.
Tires are tax deductible if the vehicle they are used on counts as a work-related vehicle. If you buy tires for your taxicab and that is your main mode of transportation, you can deduct the cost of maintaining or replacing them. That’s not as unusual as some of the other wacky cases that have ended up in tax court. If you want to get a laugh out of your tax preparer, just tell him about these cases. Like the case of the man who wanted to deduct the costs of his Rolls Royce by claiming it was a delivery vehicle. His claim was approvedwhen he showed his method of delivery was crucial to the persona he portrayed as part of his business marketing plan.
Then there’s the story of the farmer who was allowed to claim his dog and cat as outdoor pets who kept pests away from his cash crop of blueberries. Pet food for an animal was considered a personal effect and was allowed when the family wrote off their expensesfor moving out of state, but in a different case a pet snake was not allowed. Fake boobs were considered a prop in a dancer’s routine and allowed as a deduction – but not the dancing lessons another tax payer tried to claim.