10 Strange but Legitimate Federal Tax Deductions
During tax time, everyone is looking for all the possible deductions that might be applicable to your particular tax situation. You already know about the obvious deductions…..charitable contributions, household/clothing donations to Goodwill, mortgage interest, and medical or dental expenses. But what about less obvious deductions? Success Tax Relief, a full service tax firm with 30 years of experience helping taxpayers maximize all possible deductions to keep money in their pockets.
1. No better time to quit: If you’ve been thinking about quitting smoking, now is the time. Did you know that you may be able to deduct smoking cessation programs, nicotine patches and or other cessation aides.
2. Moving and you have a pet? You can not only deduct your own moving expenses but you can also write off any expenses you incur when moving your pet!
3. Unpaid loan to a friend? You may be able to deduct this amount if you do not think that you have any hope of recovering the “loan”.
4. If you have a medical need for a swimming pool and your physician attests to it, you may be able to deduct the cost of a swimming pool in your backyard.
5. Obesity is considered a medical disease by the IRS, so many weight loss programs and procedures are tax deductible, including bariatric surgery. Be careful here, however, and remember that as with all other medical expenses you wish to deduct, your deductions cannot exceed 7.5% of your adjusted gross income.
6. Overbite? If your child has a diagnosed overbite, and you enroll them in music and/or clarinet lessons, you may be able to deduct these as medical expenses. This tax rule goes back to a ruling in the 1960s that connected music lessons (specifically playing the clarinet) with improvements in kid’s overbites!
7. If you own a business and use a dog or other animal to protect your property, you could possibly be able to deduct some of the expenses related to the care of that animal.
8. Cosmetic Surgery….if you are in the adult entertainment industry and can make the case that a certain cosmetic surgical procedure can positively impact your bottom line, it’s possible that this expense can be deducted as a business expense.
9. Child care expenses while you volunteer your time: If you pay for child care expenses while you volunteer for a charity or non-profit, these may be deductible.
10. Legal defense costs for those convicted of a crime may also be deductible.
Of course, these strange and unusual deductions may not apply to you, but there are many deductions that will. Success Tax Relief can review your entire return, ask specific questions about your current lifestyle and living situation and can help find deductions that are applicable to you. We have a proven track record of helping our clients save hundreds of dollars in additional deductions. Contact us today and let our team review your return!