Examining the effects of the Inflation Reduction Act on §179D Welcome to part two of […]
Tag: Deductions
Understanding the §179D Tax Deduction for Humans, Part 1
Who qualifies for the $1.80 $1.88 $2.00 $5.00 per sq ft tax write-off? If you […]
Why You Can Kinda Blame President Trump and His Tax Cuts for Your Favorite NFL Team Sucking
More than 30 years ago, President Trump tried to sabotage the NFL. Now you could […]
Controllers Tight-Lipped About New Corporate Tax Changes
During an article brainstorming call I had with Caleb a couple Fridays ago, we both […]
Look at This Adorable Dependent in a ‘Just Deduct It’ Onesie
If you're an accountant with a baby and you don't have one of these, your […]
IRS: Hookers, Even if They Dress Up as Doctors, Do Not Qualify as Medical Expenses
We’re not ones to judge people who prescribe to home remedy treatments of any kind. However, if you choose to run through questionable means of treatment, like say BJ’s, HJ’s, etc., as deductible medical expenses, you’re on your own.
Gothamist:
A state judge has ruled that a 77-year-old Bay Ridge tax lawyer must pay back taxes after wrongfully deducting more than $300,000 for prostitutes, porn, sex toys and erotic massages…he dutifully documented each liaison in a notebook titled “Tax Journal,” in case he ever got audited
It sounds like the old guy was trying to be on the up and up about the whole dildo/Hustler/hooker-therapy methods but since paying for sex isn’t legal, the IRS and the New York state auditor (and are probably prudes) weren’t really down with the whole idea. He probably should have known better as Eliot Spitzer would have likely taken advantage of these deductions long ago had it been kosh.
Court Denies Tax Lawyer’s $100,000 Medical Expense Deduction for Prostitutes and Porn [TaxProf Blog]
Would Skipping Viagra Have Avoided These Expenses? [Tax Update Blog]