- Days left

Crazy Tax Deductions: 10 Claims That Didn't Quite Fly

×

Tax deduction traps By Peter Blank, Editor, The Kiplinger Tax Letter

Over the years, taxpayers have concocted a lot of zany arguments to justify tax deductions. We've come up with what we think are the 10 most creative ones that the tax courts decided didn't quite pass muster.

As secret agent Maxwell Smart would say, "Missed it by that much!"



Increase your money and finance knowledge from home

How to Avoid Financial Scams

Avoid getting duped by financial scams.

View Course »

Introduction to Retirement Funds

Target date funds help you maintain a long term portfolio.

View Course »

TurboTax Articles

Ways To Increase Your Tax Refund You Never Thought About

Laying the groundwork for a tax refund requires some simple tax planning, a little research and some forethought. Reviewing your tax status, consulting your spouse when filling out your W-4s and taking advantage of several tax credits can help you increase your tax refund. TurboTax also can help decide which credits can get you the biggest refund.

What Extra Tax Deductions Should I Make Sure To Take?

The federal government offers tax deductions and credits to reduce taxable income under certain circumstances. There are several that are often overlooked, including deductions for job hunting, caregiver expenses for dependents and children while you work, a credit to reduce taxes for moderate- to low-income earners and the premium tax credit associated with the Affordable Care Act. TurboTax can help determine if you qualify for these credits and deductions.

8 Things You Think Are Tax Deductible That Aren't

There?s a fine line between looking to save money on your taxes and taking deductions that will raise eyebrows at the Internal Revenue Service. Some taxpayers are tripped up by expenses that they assume are tax deductions, but don?t qualify under IRS guidelines. Here are a dozen items that can lead to unpleasant surprises in case of an audit.

9 Things You Didn't Know Were Tax Deductions

Few realizations are more painful than realizing that you forgot to include a tax deduction that would have lowered your tax bill or increased your tax refund on your tax return. Here are some tax deductions that you shouldn't overlook.

Add a Comment

*0 / 3000 Character Maximum

98 Comments

Filter by:
scottee

Americans already waste $431 billion per year complying with our tax code, yet the IRS is clearly incapable of doing its part by providing basic services to those taxpayers – such as picking up the phone. What does the IRS demand as a solution to its failures? More of your money. That’s right – the IRS wants an increase to the $11.8 billion they have already been given.

We don’t need to reform the IRS; we need to eliminate it.

That is why I am championing H.R. 25, the FairTax, which would dismantle the IRS and replace our current tax code with a 23% consumption tax at the final point of purchase for new goods and services. Not only would the FairTax do away with the headache of income tax compliance, it would also replace all other federal taxes. Congress wouldn’t need to continue debating whether or not Americans should get another two-month “holiday” from the payroll tax – the FairTax would permanently eliminate it. We wouldn’t have to keep fighting over which industries should continue to be subsidized with federal dollars in this budget-slashing era; the FairTax would eliminate them all and level the playing field for everyone.

January 21 2012 at 8:29 AM Report abuse rate up rate down Reply
belldn3

Now that's a man who loves his porn. I have spent money on it, but not that much. Movies, not ladies of the night.

January 19 2012 at 7:41 PM Report abuse +1 rate up rate down Reply
JIMMY

Well.......prostitutes are cheaper than wives, and complain less.

January 19 2012 at 5:17 PM Report abuse +2 rate up rate down Reply
teltech543

Crap. So much for my "massage therapy" deductions.

January 19 2012 at 5:04 PM Report abuse rate up rate down Reply
amikebec

thats correct, if if you want a job done right, either hire a professional or do it yourself.... :D

January 19 2012 at 5:01 PM Report abuse rate up rate down Reply
HELLRAISER

Prostitutes, good for America, IRS bad.

January 19 2012 at 4:53 PM Report abuse rate up rate down Reply
CraZyDiaMond2020

I LMAO THANKS!!!! STILL LAUGHING, THESE COMMENTS WERE THE BEST!!!!

January 19 2012 at 4:45 PM Report abuse rate up rate down Reply
z06corvette500

A prostitute.The best thing about them?You only have to pay them once not weekly.lol

January 19 2012 at 4:40 PM Report abuse rate up rate down Reply
Lightning F2A

Ahh prostitutes, the perfect woman - she always says yes and you get to see her leave when you're done.

January 19 2012 at 4:22 PM Report abuse +1 rate up rate down Reply
2 replies to Lightning F2A's comment
vanessaem

Your perfect woman is someone you have to pay to every time you have sex? I guess you can't get it any other way...lol.

January 19 2012 at 4:32 PM Report abuse -1 rate up rate down Reply
2 replies to vanessaem's comment
howardfrenkfort

He just prefers to pay as you go instead of the lump sum method.

January 19 2012 at 4:38 PM Report abuse +1 rate up rate down
likecandy7

Every man pays, only b/c every woman expects to be paid.

January 19 2012 at 5:26 PM Report abuse -1 rate up rate down
adstith

Your getting some flak for your Comments..I thought it was really funny. Ya gotta be divorced, I am!! thats why we find it funny

January 19 2012 at 4:41 PM Report abuse rate up rate down Reply
ketavan

http://www.youtube.com/watch?v=jhUkGIsKvn0

January 19 2012 at 4:16 PM Report abuse rate up rate down Reply