Deductions Considered By The IRS

When tax time comes, some people uncover their creative imaginations. For
instance, a man made a fallout shelter for fear of a nuclear attack. His
attempt at deduction was to declare the costs as a "preventative medical
expense." One woman purchased a $5000 mink coat and declared it as a
business expense, claiming she used it to visit clients. A business owner
who employed an arsonist to destroy his store takes the cake. From his
taxes, he tried to deduct an arsonist fee of $10,000. The IRS rejected that
claim, of course.

The common IRS deductions you can take are worth a peek. To determine which
deductions the IRS take, consult a Tampa tax lawyer.

Under IRS laws, the following common business expenses are deductible:

* Business tools (Since they were important to her work, an "adult

performer" deducted her breast implant costs successfully. For the rest of
us, things like work clothes and boots are deductible.)
* Membership dues or union costs for professional associations or
organizations.
* Training relating to your job.
* Expenses incurred during job search.
* Expenses incurred on business trips that aren't reimbursed by your
company.
* Dry cleaning of work uniforms for nurses, police officers, and security
guards, such as lab coats is deductible.
* Home office.

The list of deductible work expenses is long. To make sure you take
advantage of the deductions appropriate for you, contact a tax preparer.
Tax deductibles that are common are:

* Mortgage interest of your primary or second residence's secured loan.

* Often, health insurance premiums are deductible. Ask a tax lawyer from
Tampa because there are varying rules. You may be able to deduct your
premiums if they make up 7.5% or more of your income.
* Interest on student loans.
* Fuel-efficient vehicles.

You can also save money with totally legitimate uncommon deductions. Make
sure you check with a tax lawyer or tax preparer from Tampa if you think
you qualify for these deductions. You don't want to make farfetched
deductions, but neither do you wish to miss out on legitimate deductions.

* Expenses incurred by teachers of up to $250 that aren't reimbursed by the

teacher's employers can be deducted.
* You can deduct up to $4000 in college tuition paid for the year.
* Charitable donations that are non-cash. These can be items for a
fundraiser at school or ingredients to a charity bake sale. They can be
deducted when totaled.
* Expenses spent when moving for your first job.
* Tax deductions for natural disasters.
* Your employees' snacks. As long as they're small and cannot be considered
wages or compensation for work, you can write these little snacks off.

To figure out which deductions you are entitled to, look online. You'll
usually go through deductions to determine if you qualify if you use a tax
preparation service online. For more guidance, you can also consult with a
tax attorney from Tampa.

Knowing what you can and can't claim is important. The IRS accepted a
deduction by a dairy farmer who wrote off his African safari. He claimed
that because he was learning about wild animals, it was necessary for work.
The IRS seemed to think this was totally acceptable. Be cautious, however.
On the basis that he needed to look good at all times, a male model
attempted to write off his entire designer wardrobe. They weren't official
company clothes, even if it was valid. You are not alone if you're unsure.
Talk with a Tampa tax attorney and have all the deductions you require.

Darrin T. Mish is an experienced, nationally recognized tax attorney who

has been practicing tax law for over a decade. He has an AV rating by
Martindale-Hubbell and has been honored with a listing in Martindale-
Hubbell’s Bar Register of Preeminent Lawyers. His passion is providing IRS
help to taxpayers, and with that in mind, he travels the country training
other attorneys, CPAs and enrolled agents on how to handle their toughest
cases with the IRS. He is also a member of the American Society of IRS
Problem Solvers and the Tax Freedom Institute. If you would like more
information about his practice and how he can help you, please visit
http://getirshelp.com.