Strangest Tax Deductions

The Minnesota Society of CPAs recently conducted its annual CPA member survey about the most strange and unusual tax deductions proposed by clients. The responses included everything from pets and wedding rings to gifts not given.

Here is the MNCPA's list of the best strange—and unacceptable—deductions for 2013. -- Michael Cohn, Accounting Today

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Comments (5)
Ann Romney's $77,731 deduction for Rafalca , her dancing dressage horse.
Posted by ROBERT L | Tuesday, February 18 2014 at 8:37AM ET
Ah yes, the oft touted but completely inaccurate claim about Ann Romney and Rafalca. If you looked the tax return over carefully, you would have seen that ultimately, the Romneys were able to deduct about $39.00 for their string of dressage horses. Now, if one of those horses sell for above its original price, then more of the $77,731 will be deductible, but for the year prior to the presidential election, the Romneys had a negligible deduction for Rafalca.
Posted by | Wednesday, February 19 2014 at 2:42PM ET
Posted by jtllopsg k | Saturday, April 05 2014 at 6:12PM ET
Posted by jtllopsg k | Sunday, April 06 2014 at 1:53AM ET
Posted by jtllopsg k | Tuesday, April 08 2014 at 10:50PM ET
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