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You Deducted What?! Devious Deductions and Eccentric Tax Evaders

You Deducted What?! Devious Deductions and Eccentric Tax Evaders Tax day is almost here! What will you deduct, and will you get away with it? Check out what previous tax payers have tried to deduct, and which celebrities got nabbed for not paying taxes at all! Strangest Legitimate Deductions CAT BODY SWIMMING FOOD OIL POOL The cost of cat food was Bodybuilders can deduct body oil as a legitimate business expense because they use it to highlight their muscles during competition. One man, after being prescribed exercise as treatment, installed a swimming pool at home and deducted the cost as a medical expense. written off as a business expense by a junkyard owner with a rat and snake problem. PLASTIC PET MOVING BABYSITTER SURGERY EXPENSES FEES If you are moving due to job relocation, any costs which are incurred from moving your pet(s) are deductible. The cost of a babysitter can be written off if you An exotic dancer wrote off her breast augmentation surgery because her anatomy was ruled as a stage prop essential to her hire one to work while you are volunteering for charity. act. Failed Tax Deductions MINK DAUGHTER'S SUPER BOWL COAT WEDDING SUNDAY One man tried to deduct his mink coat as a business expense, claiming it was a After inviting clients to his daughter's wedding, one business man tried One businessman decided to take clients and their spouses to the to deduct the entire cost Super Bowl, but could not prove that the trip conversation starter as a business when visiting clients with his wife. entertainment expense. was related to business. FALLOUT POT ARSONIST SHELTER PLANTS FEES During the Cold War, one concerned citizen tried to build a Nuclear Fallout Shelter and One drug dealer listed One struggling business owner tried to deduct the his crop of marijuana as a business expense, $10,000 fee paid to an resulting in his arrest and the seizure of his arsonist to burn down his deduct it as "preventa- business, linking him directly to the criminal act. tive medicine." property. Celebrity Tax Evaders AL CAPONE MARTHA STEWART 0.J. SIMPSON Amount owed: Amount owed: Amount owed: $215,000 $220,000 $1.4 million Punishment: Punishment: Eleven years in federal prison and $272,692 in fines, back taxes and court fees. Punishment: None yet. Simpson dodged paying back his taxes since he is currently serving time for robbery and kidnapping. Pay amount owed NICOLAS CAGE JUDY GARLAND WESLEY SNIPES Amount owed: Amount owed: Amount owed: $6.2 million $4 million $15 million Punishment: Punishment: Punishment: Three years in federal prison; pay amount owed Pay amount owed Pay amount owed It's one thing to deduct your cat food, but it's quite another to not pay your taxes at all! Forgo legal backlash and remember to file every year. Be sure to seek advice from a professional tax consultant to discuss your unique financial situation. Brought to you by Sources: | | | | | | CRIME SCENE DO NOT CROSS CRIME SCENE DO NOT CROSS

You Deducted What?! Devious Deductions and Eccentric Tax Evaders

shared by Stephania on Mar 21
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You Deducted What?! covers strange but legitimate deductions, failed tax deductions, and celebrity tax evaders. Here are some of the facts: Legitimate Tax Deductions: The cost of cat food was writt...


Veronica Sapien


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