Thursday, April 28, 2011

5 crazy claims for tax deductions from business profits

1 - Cost of hiring an arsonist – NO
A man with a failing furniture business decided to hire someone to burn it down. The store-owner's plan was not only to collect the $500,000 insurance money, but also to deduct the $10,000 expenses of hiring the arsonist! Not a smart man.

2 - Fake Boobs - YES
A stripper going by the name of CHESTY LOVE used her hard-earned savings to boost the size of her boobs, to the eye-popping size of 56-FF. She figured it would get her more tips. And the write-off was allowed, being considered a stage prop essential to her act.

3 - Cat food - YES
Junkyard owners set out bowls of pet food nightly to attract wild cats. The wild cats also took care of their nasty snake and rat problem, making the junkyard safer for customers and providing a useful business service. Yep, you guessed it…the pet food is a business expense, it was allowed.

4 - Body Oil - YES
If you’re a regular Joe, body oil is a once in a blue-moon splurge. Maybe something to spice up an evening with your partner, but certainly not a write-off. However, if you’re a pro bodybuilder and need gallons of body oil to make your muscles glisten, then it is a genuine tax write-off. Just don’t turn up at a client meeting covered in oil, wearing nothing but a thong and a smile.

5 - A ‘Playmate' Party - YES!
The owner of a nightclub promotions firm decided that a regular party wasn’t good enough for his clients. So, he brought in a bunch of scantily clad “bunnies” as decoration. The tax man said sure, it’s a valid expense. Whether or not pictures of the bunnies were attached to the return is unknown at this time.

Taken from a US list of 20 Amazing tax deductions
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