Monday, January 26, 2009

Tax Time Deductions?????


So you know that Tax Time is coming. And as a dog owner (4 of them!!) I always thought how great it would be if I could just deduct some of their medical expenses or toys...ya right...dream on!! But one of my biggest fears is that I will get audited. Not that I do anything funny...in fact I have people do them for me...but I am so intimidated by the IRS...they scare me!! I was reading online today about tax time and thought I would pass along part of the article to you...because I foud it hilaruious!!! From MSN Money (read the whole article HERE) "Deductions that Shout Audit Me!"


...Pets
We all love our pets. But they really don't qualify as our dependents regardless of how much we spend on their upkeep.
Literally millions of dependents disappeared when the IRS demanded Social Security numbers for all claimed dependents.
That means that you not only lose the personal exemption for the pet, but the medical deduction for the veterinary bills as well. Sorry about that. Well, if I can't claim them as dependents, perhaps I can get them to pay my tax bill with their charge cards. Both my dog and my cat have had Visa and MasterCard credit cards in their own names, sent by banks eager to add Frisco T.D. Schnepper and Fred T.C. Schnepper to their rolls. (T.D. is "the dog" and T.C. is "the cat.")...



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