I Always Thought I Could Deduct That
I always thought I could deduct that!
A growing number of calls are coming into my office daily for audit representation. Taxpayers want to get the best return possible, however many have received incorrect advice. Sadly many times I have to be the bearer of bad news and tell taxpayers that these expenses will not allowed. Below is a listing on common deductions that are NOT allowed.
Miscellaneous Expenses
- Clothing that is adaptable to everyday use
- Commuting costs
- Contributions to non-US charities
- Dry cleaning and laundry
- Dues to country clubs, athletic clubs, airline clubs, and hotel clubs
- Expenses that were reimbursed by your employer
- Grooming
- Gym membership
- Interest on personal loans
- Job search expenses not for your current profession
- Lunch while at work
- Moving expenses not associated with your job
- Student loan principal
Home Expenses
- Depreciation
- Home phone line
- Homeowner’s association fees
- Insurance
- Mortgage principal payments
- Utilities
- Wages to a housekeeper
Taxes and Fees
- Employment taxes
- Estate, inheritance, legacy, or succession taxes
- Federal income taxes
- Fees for taking an exams to qualify you in a profession
- Fines and penalties paid to a government for violation of any law
- Gift taxes
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