I Always Thought I Could Deduct That

kevin-hart

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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