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Top 5 Oddest Tax Deductions

 
Top 5 Oddest Tax Deductions
Posted April 11th, 2013 @ 7:59am

It's "Tax" time and that means it's time to get your receipts and deductions in order.  According to Turbo Tax, here are five of the oddest deductions:

5. A private airplane  --  Rather than drive five to seven hours to check on their rental condo or be tied to the only daily commercial flight available, a couple bought their own plane. The Tax Court allowed them to deduct their condo-related trips on the aircraft, including the cost of fuel and depreciation for the portion of time used for business-related purposes, even though these costs increased their overall rental loss.

4. Body oil  --  A professional bodybuilder used body oil to make his muscles glisten in the lights during his competitions. The Tax Court ruled that he could deduct the cost of the oil as a business expense. Lest it be seen as a softie, though, the Court nixed deductions for buffalo meat and special vitamin supplements to enhance strength and muscle development.

3. A trip to Bermuda  --  This island is more than just a scenic place to visit. It's also a great place to schedule a tax write-off. Business conventions held in Bermuda are deductible without having to show that there was a special reason for the meeting to be held there. That's a sweet perk.

2. Moving the family pet  --  If you are changing jobs and meet a couple of tests, you can deduct your moving expenses—including the cost of moving your dog, cat or other pet from your old residence to your new home. Your pet—be it a Pekingese or a python—is treated the same as your other personal effects.

1. Pet food  --  A couple who owned a junkyard was allowed to write off the cost of cat food they set out to attract wild cats. The feral felines did more than just eat; they also took care of snakes and rats on the property, making the place safer for customers. When the case reached the Tax Court, IRS lawyers conceded that the cost was deductible.

*Check out the entire Top 10 article from TurboTax HERE 

 

**photos provided by kchomes.wordpress.com & myhomevet.net

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