Nope, Not Deductible

Published by kylegaze on

Nope, Not Deductible

Your Dog, no matter how ferocious, is not deductible as a security expense unless he is a legitimate junkyard dog.  No dog food or vet visits.  You can’t claim him as a dependent either.

A Graduation Party is not a business deduction, even though your business contacts attended the party or wedding.

The Winter Coat and Snow Blower are not moving expenses, even if you are moving from sunny Phoenix to Minneapolis.

Your Grandchild’s Tuition is a nice gift, but does not qualify as a charitable deduction.  (Structured properly, there are some tax favored alternatives.)

An Excerpt from the Minnesota Society of CPAs Member Survey