David Kirkpatrick

March 30, 2009

Wild tax deductions

Filed under: Business — Tags: , , — David Kirkpatrick @ 12:37 pm

Tax season is nigh and insane tax deductions are always a rich vein to mine. Here’s nine “wacky” deductions curtesy of MSN Money.

From the link:

3. At least it wasn’t ‘travel and entertainment’

Sometimes business owners will try to slide a fast one by the IRS by classifying a business deduction in a category where the dollar signs might not raise an eyebrow.

 

One such fastball didn’t pass the eyebrow test with this Oklahoma accountant, however.

“We were reviewing a business client’s accounting entries and noted a check for over $2,000 written to a gynecologist. It was classified on the business books as ‘repairs and maintenance.'”

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