Friday, October 18, 2024

6 tax deduction one-liners

Every year my friend asks if he can deduct the cost of his jogging shoes for tax purposes. It’s a running joke.

My client recently started a gardening business because he wanted to grow his net income.

Another client wanted to write off  the cost of a new bespoke suit. They said it would be a tailored deduction.

It would be wrong to claim a deduction for a new watch, but it could be a timely mistake.

My friend wanted to deduct the cost of his glasses. I told him that was short-sighted.

And anyone who thinks they can claim their morning coffee as a business expense should note that’s a perk, not a write-off.


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