Every tax year, we’re allowed to subtract certain expenses from our taxable income. Typical deductions encompass business costs or medical charges, which can slice a chunk off what we owe to the tax authorities yearly. Yet, some unexpected expenses can also be written off, and we have meticulously curated five of the rather uncommon yet tax deductible expenses. Some are quite specific, offering only a minor percentage of people the advantage, whereas others are more widespread and handy. Dive in to discover how to potentially lessen your annual tax bill, or navigate to the Villanova University webpage for a broader understanding of tax rules.
BREAST IMPLANTS
This deduction is very niche but noteworthy — breast implants and enhancement surgeries can be written off for tax purposes. A striking precedent was established in 1988, when an exotic dancer, humorously named Chesty Love, claimed a $2,088 tax deduction on her silicone implants. Love triumphed after convincing the court that her enhanced breasts were a ‘stage prop’ and hence, a professional expenditure.
CLARINET LESSONS
Surprisingly, studying a musical instrument, such as the clarinet, can be eligible for a tax deduction! In 1962, orthodontists communicated to the IRS that repeated clarinet play could potentially rectify retrognathic mandible (commonly known as overbite) in children, leading to a revision in the tax code. Subsequently, numerous parents claimed clarinet lessons for their children as tax deductions- peculiar yet entirely legitimate.
SWIMMING POOLS
Believe it or not, swimming pools and clarinet lessons hold common ground — they can both be tax deductions under medical expenses. Installing a pool might seem like an extravagant display of luxury. However, if you have a validated medical condition that necessitates regular swimming, it could be a wise financial maneuver, significantly trimming down your yearly tax horns.
MOVING YOUR PETS
Should you relocate your residence for professional reasons, you can claim several expenditure types against your tax. A not-so-familiar example includes the costs sustained for shifting your pets. Diving into detailed research can yield great savings. So, expenses such as pet cages, pet handling charges, and other charges associated with animal transportation can also be subtracted from your income tax
GUARD DOGS
Speaking of animals, are you aware that purchasing and maintaining certain pets can also reduce your tax bill? If you can demonstrate that you’ve bought an animal to safeguard your house or business, it can indeed be used as a tax claim. While this innovative deduction commonly aligns with dog owners, the recent talk about guard pigs, geese, and other protective species might also give them an opportunity to capitalize on this tax break.
