Can I Deduct This?

As a CPA who has been in the business for over twenty five years, I have heard my share of highly questionable and strange deductions that my clients wanted to claim on their tax returns. It has run the gamut of the person who wanted to claim a donation for giving blood to the Red Cross to the client that wanted to deduct his four classic cars through his business. This article from Kiplinger highlights some “believe-it-or-not” tax deductions that were actually accepted by the IRS Tax Court. Continue reading.
Image Source: Jeff Stahler