There are some pretty strange things people have managed to get tax reductions for. For instance, in 1988 a stripper named Chesty Love claimed a $2,088 breast enlargement surgery as a business expense. She was granted the deduction in appeals court. This one will really freak you out—a man who felt he was a woman trapped inside a man’s body was diagnosed with gender-identity disorder, so, of course, the IRS granted his claim that a sex-change operation was a medical expense since it was to treat a diagnosed disease, $14,500 was deducted to cover hormone therapy and sexual-reassignment surgeries.
Did you know that the IRS allows you to deduct medical expenses as long as they’re 7.5 percent or more of your adjusted gross income. Deductions can be used for doctor’s visits, chiropractor visits, acupuncture and Christian Science practitioners. Also, up to 23.5 cents per mile may be deducted for traveling expenses.
To learn more about some other things people have gotten tax reductions for, check out this infographic presented by TopAccountingDegrees.org!