Tax Deductions Leading to Audits

Monday, March 3rd, 2008

I found a great article on MSN this morning called "Tax deductions that shout 'Audit me!'" The article suggests one deduction that could raise an auditors eyebrow is the "home office" deduction. I'm not surprised. Owning a small, home-based business myself, I often have friends and family recommend ...

A list of wacky tax duductions – some approved, some not

Monday, February 25th, 2008

Denied by the IRS Bodybuilder (part 1): A pro bodybuilder wanted to claim a dietary business deduction for buffalo meat and protein shakes. Donor's Deduction: A Manhattan CPA was approached by a man who had made some money as a sperm donor. He wanted to take a depletion allowance, which only works ...