Red Tractor USA
Tips For Tax Deductions
Heartland, USA – Thinking about
deducting those drinks that you had Friday night as a business expense? You are
not alone. Looking for some last minute tax deductions? Well, we can’t help
you, but we do have some tips on deductions to help you avoid the wrath of the
IRS.
First, just because you discussed work
all night long Friday in the bar and specifically what a prick your boss is,
does not mean that your seven Heinekens and three shots of tequila with your
coworkers are tax deductible. The fact that a client of yours was in the same
bar, albeit in the back room shooting pool, does not change anything either.
Second, your home internet service is
not tax deductible. If you actually work exclusively out your home and have a
separate office you might think about deducting this. But otherwise, just
because you check your work email from home once in a while in between
downloading songs and surfing for porn, does not mean you can deduct your high
speed internet connection.
For that matter, do not think about
deducting your cable TV bill either, even if all you do is watch that Cramer Mad
Money guy all night. Sorry, the IRS does not view “Cramer Mad Money” as
investment advice. While that clown may be entertaining, watching him
obsessively is not a tax deduction even if he does help you make some money!
Also, if you are thinking about
deducting your cable TV bill for all of the poker tournaments that you watch,
you better be a professional poker player with some winnings to report and
preferably from a state where gambling is legal.
Drive around for work a lot? Don’t
even think about deducting your parking tickets. Even if your best client is
located in the city and he requires that you personally deliver items, you can
not deduct your parking tickets. The same goes for that boot thing you got
after you racked up a grand of tickets.
Thinking about deducting that trip to
Cancun? Think again. No matter how stressed out from work you were prior to
your week in Mexico, the IRS does not see stress reduction on a beach with a
cold Corona as being tax deductible. The fact that a client of yours was
coincidently in the same airport at the same time, and you said hello to him,
also does not change anything.
If you claim that you donate cash at
church every morning, seven days a week, the IRS may bite for that one, but the
almighty might catch on to you. So you probably should avoid taking this
deduction as well unless you are actually a priest.
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