I'm in the process of digging up the 2001 tax information for our tax preparation appointment and I NEED TAX DEDUCTIONS!! Any good ideas (legal, please) for tax deductions? How about cruising? We've done three cruises this past year; they've gotta count for something, right? lol
Well, did you talk with anyone on the cruise about your business? Can you document who you spoke with? Was there "branch" of your business, or a competitor in the ports where you stopped, and did you stop by? just some ideas - lol
You did say you visited a competitor , not a customer. A little anti trust action going on here. Where are the price fixing police?
Cruising should be deductable as a preventative medical expense, as you would go crazy without it.Or how about deducting it as an expense for scouting for new products to sell, surveying for potential new customers , scouting potential new manufacturing locations? I don't think the IRS will believe any of it, but that shouldn't stop one from filing an imaginative tax return.
OL Love ALL those great deductions!!! Unfortunately, we go the straight and narrow on the tax returns. Sure would love to live it up once in awhile and claim the pool/spa as a medical necessity or a cruise as a preventative medical expense!! Or better yet, the cruise clothes as a "work" expense. Hey, I worked out REAL hard at the gym and finding my table in the dining room was hard "work" too. It's all a matter of being creative!
If not a medical or business deduction, how about a research deduction?
Such as detailed research into the effect of tropical drinks on sun tan products. Comparative research into whether mexican beer tastes better with or without a lime . How about the effects of dancing until dawn versus
gambling until dawn on the common hangover? Or maybe the effects of jackpot bingo on the blood pressure.
What about an interest deduction? I spend money on cruising because of an intense Interest in it?
How about a pension deduction? The money I spend cruising might otherwise be deposited in my pension fund?