Deductions and Write-Offs
The most frequently asked tax questions related to Deductions and Write-Offs
Fertility Enhancement
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 of procedures such as in vitro fertilization including temporary storage of eggs or sperm.
Also, surgery including an operation to reverse prior surgery that prevented the person operated on from having children.
Also, surgery including an operation to reverse prior surgery that prevented the person operated on from having children.
Payroll deductions for Health Insurance
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
Payroll deductions automatically withdwawn from your paycheck for medical insurance is a deductible medical itemized deduction.
This amount can be added to your other medical expenses such as for your doctor, dentist, prescribed drugs, eyeglasses and mileage to travel to those locations.
This gross medical expense calculation is subject to the 7.5% limitation.
This amount can be added to your other medical expenses such as for your doctor, dentist, prescribed drugs, eyeglasses and mileage to travel to those locations.
This gross medical expense calculation is subject to the 7.5% limitation.
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.
Maternity Clothes
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You cannot deduct the costs of Maternity clothes.
Life Insurance Premiums
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You cannot deduct the costs of Life Insurance Premiums.
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.
Divorce - Lawyer fees
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
Generally, you may not deduct legal fees paid for arranging a divorce, separation agreement or for defending your spouse's demand for alimony.
Only the fees to collect alimony or for tax advice are deductible as a miscellaneous itemized deduction subject to the 2% AGI limitation.
Legal fees relating to child support are not deductible.
Only the fees to collect alimony or for tax advice are deductible as a miscellaneous itemized deduction subject to the 2% AGI limitation.
Legal fees relating to child support are not deductible.
Job hunting
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
Job hunting expenses looking for a new job in your present line of work is deductible as an itemized deduction subject to the 2% of AGI limitation.
Expenses would include the costs or resumes, agency fees, transportation to interviews, newspapers bought for employment advertisements.
Expenses incurred looking for a new job in a new trade or business is not deductible.
Expenses would include the costs or resumes, agency fees, transportation to interviews, newspapers bought for employment advertisements.
Expenses incurred looking for a new job in a new trade or business is not deductible.
Political contributions
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
Political contributions are not deductible.