DAVID S. BABOIAN, CPA, PC

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1/17/2016

January 17th, 2016

Read Now
 
TAX TIP OF THE DAY... deduct your clown suit!
You are able to write off clothing as it applies to your occupation as long as not suitable for every day wear.

In the Tax Court case of a clown that contested that his clown costume was legitimate, the business deduction was upheld by the tax court as a legitimate business expense as he only wore it for his occupation. To demonstrate his seriousness of the matter, he came with his well dressed attorneys and he wore his full clown suit, including red nose and orange hair, to the tax court to demonstrate the point. It was pointed out as an example that the lawyers Armani suits would not be deductible as they could be worn for non-occupational events and his clown suit would not fall into that category.
source: NBC24.com

http://nbc24.com/news/local/strange-deductions-and-tips-before-you-file-on-tax-day?id=885080

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  • Home
  • Services
    • What we do
    • Are we right for you?
    • $99 Jump-start
  • Client zone
    • Individual clients >
      • Identity Theft - IRS Affidavit
      • Personal Financial Statement
    • Business & rental clients >
      • Example expenses
      • Mileage log
      • Petty cash log
      • Sales tax
      • W9 for subcontractor
      • Example Profit & Loss
      • Obamacare Self-employment Ledger
    • Payroll services >
      • Employee paystub portal
      • EMPLOYEE set up forms for new hires
      • EMPLOYER set up forms
    • Web Links
  • About us
    • Contact
    • Our team
    • Dave's resume
    • Dave's band - Dance Fever
    • Haunted Chamber
    • Picture gallery
  • Secure email