The IRS will audit you for the rest of your life if you try something they see as malicious, intentional, or just plain dumb.
So if you've got a fantasy about a deduction here are 8 to avoid - the IRS has seen them already.
- Don't hire an arsonist to burn your business down, collect the insurance money, then try to deduct the arsonists fee as a business expense. A guy got his half million for the building and tried to deduct $10,000 for the arsonist. The IRS denied the deduction and called the FBI.
- A New Jersey guy got tired of the crap air in his city. So he built a 'bubble of pure air' around his house. Don't ask how he did it because the Angle and the IRS doesn't know either. But the goof wanted someone in a government to pay for it, so he tried the deduction - denied.
- Growing and selling Marijuana is a federal crime. The guys growing pot and 'pretending' states passing medical marijuana laws enables them to have a legitimate business are a laugh. But the IRS doesn't think it's funny. So they called the ATF and had the guy in California arrested when he tried to deduct his business expenses. Oh yea, the deductions were denied.
- Yes. Weddings are expensive. No. Weddings are not deductible. Not even if you marry the bosses daughter.
- No matter how much you love your dog or cat or prefer them over your own kids, they are not deductible, but your goofy kids still are.
- There are numbskulls out there selling 'skin' space for tattoos to business for advertising. The cost to put one on is not deductible, nor are the meds needed to burn the dumb idea out of your head the next time you try it.
- Sure your scared Obama will trigger a nuclear war in the Middle East, but the cost of the bomb shelter you build to survive is not deductible - nor can you deduct the tinfoil hat you're wearing to keep government microwaves out.
- Finally, we come to the grim reality many face with Obama's record number of young adults moving back in with mom and dad. None of these 'kids' are deductible after the age of 18. No matter how much beer they drink, or how clean they keep the basement.