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Is It Deductible?
Calling All Late Filers – Don't Forget About...
I’m the first to agree that April 15
comes too early every year. Just like my wife’s birthday, it sneaks up on me when I’m not looking and suddenly I find myself frantically scrambling at the...
Can I Claim a New Roof on My Taxes?
Hey Dave, I spent 30K on a new roof last winter after my old one collapsed under 100 inches of snow. I’m planning to sell it in a few years and move to a warmer climate. Where do I report the cost of the roof on my...
Are the Gift Baskets We Gave to Our Business...
Hey Dave, We have our own marketing and design business. This year we ordered expensive gourmet chocolate gift baskets for each of our ten clients to thank them for making 2015 our most successful year ever. Each basket will...
Can I Deduct the Value of My Stolen Diamond Ring?
Hey Dave, While I was working out at the gym, someone broke into my locker and stole my diamond ring. It’s my wedding ring and I always take it off before doing anything that might damage it. My husband paid ten thousand...
I Need to Look Good in Business Meetings. May I...
Hey Dave, I do PR in the Bay Area. My hairstylist says I can deduct my entire salon bill on my taxes because it helps me look good at business meetings and events. Will this fly? Juanita Juanita, I have never attended...
I've Donated Money to My Favorite Political...
Hey Dave, I want to donate to my favorite politician’s 2016 campaign for our state’s House of Representatives. She is the only candidate who believes what I believe about saving the environment. Are there limits to how much I...
My Husband Volunteers For Our Church. Can We...
Hey Dave, My husband spends a lot of time designing and printing weekly church service bulletins and other special design and print jobs. Can he deduct the time he works as a volunteer? Judy Judy Unfortunately, the...
Can Life Coach Training Expenses Be Tax...
Hey Dave, My wife is training to begin her career as a life coach. Can the expenses of her training, including tuition, room, board & travel, be tax deductible? Sandep Sandep, Probably not. Generally, education and...
What Health Care Costs Can I Deduct?
You might have thought that with the new Health Care Reform more of all the money you spend on health insurance and medical expenses would be deductible. In fact, Obamacare (the “Affordable Care Act”) has had very little impact...
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Is it Deductible?