February 14th, 2016
TAX TIP OF THE DAY... IRS is dumb but not stupid
So don't try to deduct expenditures that are obviously personal:
1) Valentines Day roses
2) birthday party (yes, they have your birthday)
3) Disney family vacation
4) Christmas gift to spouse
If you are ever audited and the IRS finds one of the above transactions, they will immediately disbelieve all other deductions. They will dig in and turn the audit into a 2 week witch hunt. It's not worth it, especially since there are so many other GREAT DEDUCTIONS available to you.
SHARE WITH A FRIEND.
If you need a tax appointment... www.baboiancpa.com
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David S. Baboian, CPA