Deductions and Write-Offs
The most frequently asked tax questions related to Deductions and Write-Offs
Nice Clothes
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
The purchase and dry cleaning and maintenance costs of your work clothes such as suits and dresses are not deductible.
To be deductible the clothing must be not be adaptable to everyday wear and be required as a condition of employment.
The dry cleaning and maintenance costs of Uniforms and special clothing such as for nurse’s, police, and fireman are deductible.
To be deductible the clothing must be not be adaptable to everyday wear and be required as a condition of employment.
The dry cleaning and maintenance costs of Uniforms and special clothing such as for nurse’s, police, and fireman are deductible.
Life Insurance Premiums
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You cannot deduct the costs of Life Insurance Premiums.
Acupuncture
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You can include in the calculation of Medical itemized deductions as medical expenses subject to the 10% / 7.5% limitation the amount you paid for acupuncture.
Chiropractor
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You can deduct as a medical itemized deduction subject to the 7.5% limitation the cost you paid a chiropractor for medical care.
Maternity Clothes
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You cannot deduct the costs of Maternity clothes.
Psychiatric, Psychoanalysis or Psychologist payments
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You can deduct as a medical itemized deduction subject to the 10% / 7.5% limitation the costs you paid for Psychiatric, Psychoanalysis or Psychologist for medical care.
You cannot include payments for Psychoanalysis that is part of required training to be a Psychoanalyst.
You cannot include payments for Psychoanalysis that is part of required training to be a Psychoanalyst.
Political contributions
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
Political contributions are not deductible.
Dry cleaning costs of Suits and Dresses
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
The dry cleaning and maintenance costs of your work clothes such as suits and dresses are not deductible. To be deductible the clothing must be not be adaptable to everyday wear and be required as a condition of employment. The dry cleaning and maintenance costs of uniforms and special clothing such as for nurse’s, police, and fireman are deductible.
Gambling losses
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
Gambling losses are allowed as a fully deductible itemized deduction up to the amount of gambling winnings.