Marketplace is a mini radio show on National Public Radio. They air for a few minutes in the morning and a half an hour in the evening, after the markets have closed for the day. The program offers financial news and tends to have interesting discussions about the economy.
As we’re coming down to the last lap in the income tax submission race, Marketplace has been airing a feature called Best Deduction Ever. In this feature, accountants are interviewed, giving their stories about a wacky tax deduction clients asked them to take into account.
Yesterday, one man interviewed wanted to deduct his daughter’s $25,000 wedding by inviting coworkers and calling it a business meeting.
Today, an accountant mentioned that following the death of one of his clients, while collecting the materials for her final tax return, he came to the realization that the medical expenses they had been deducting for her over the years were actually veterinary expenses for her pet parakeet.
Now, it’s always dangerous when I ask for people to post comments, because there’s always the danger that no one will post and I’ll come across looking like a foolish blogger. On the other hand, feel free to post comments if you know of any other strange tax deductions attempted — perhaps by you, but you don’t have to admit.