? Should Law Profs List Religious Affiliation on Their CVs? | Main | Maxine Waters Threatens to 'Tax Banks Out of Business' ?
September 4, 2011
WSJ: Unleashing Deductions for Your Pets
Wall Street Journal, Unleashing Deductions for Your Pets, by Laura Saunders:A self-described "cat lady" named Jan Van Dusen from Oakland, Calif., in June won a Tax Court decision against the IRS that broadened the scope for deducting animals on tax returns.? Ms. Van Dusen had taken a charitable deduction for unreimbursed expenses for the care of feral cats for a nonprofit group. The IRS rejected the deduction, and the Tax Court sided with Ms. Van Dusen. The IRS has about three more months to appeal, and a spokesman declined to say whether it would. ...
The Van Dusen case has resounded in tax?and pet?circles for most of the summer, and got Tax Report to thinking: What are some other ways people can deduct their pets?...
? Moving expenses ... may include the cost of moving a pet. See IRS Pub. 521 at irs.gov.
? Estate expenses ... The cost of maintaining a pet while an estate is being settled may be deductible if the animal has monetary value, such as a purebred dog. The expenses also may qualify if the animal provides security for property.
? Business expenses. The costs of acquiring and maintaining animals used in a business?say a guard dog or a cat that keeps rats in check?may be deductible as long as the company can show they are "ordinary and necessary" costs of doing business. ...
? Service animals. The cost of acquiring or caring for a service animal such as a guide dog or hearing cat is eligible for a medical deduction.
September 4, 2011 in Tax | Permalink
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4eab53ef015391413a16970b
Listed below are links to weblogs that reference WSJ: Unleashing Deductions for Your Pets:
Comments
Post a comment
Source: http://taxprof.typepad.com/taxprof_blog/2011/09/wsj-unleashing.html
tinker tailor soldier spy rent a car freedom tower freedom tower ghost whisperer ghost whisperer ground zero
No comments:
Post a Comment