Transcript for Tax Deductions You Don't Know About
All of us looking to wait for more money in our pockets and one ways to do that is through tax deductions. So here's here's some of the deductions that we may not know about are commonly think as even... See More
All of us looking to wait for more money in our pockets and one ways to do that is through tax deductions. So here's here's some of the deductions that we may not know about are commonly think as even possibly being deductions Farnoosh Torabi. Puts a financially fit on our partner Yahoo! finance thanks for being with us today -- there are I CNN's -- cats and dogs everywhere and loves their pets and we can -- -- them now. Well if it's just a pet now so if you're just you know. Parent to a dog or cat and you love this cat dog but you're really just it's just there for amusement and fun in love now. If this pet is helping you with an ailment or medical reason war maybe even a guard dog. This is a case where you can perhaps deduct the expenses related to caring for this -- So another so definitely a guard -- ran for your business or for your home if you live in -- neighborhood that is not safe -- -- has been proven to be not -- to -- need a lot of back up to OK your case. If a doctor prescribes you a seeing a seeing -- dog or -- -- for your depression you gonna die and the doctor says this is -- actually help you get over depression. Using a doctor's note that could potentially last again he's got a -- but it is possible though it is possible weight loss programs that can be deducted. If that doctor says okay -- weight loss. Needs to have high that that this is not a frivolous ten pounds that she -- -- drop out and out this -- Holiday paperwork is your best friend here and not only just not any paperwork have to be from your doctor saying not only that your weight currently -- a life threatening wait. But that it has selfless plan you know what -- -- doctor want you to do and what would be the ideal goal weight. That -- if you reach that way let it be fine because you can't just say like I've been a die for ten years and it's been from -- island docked at. You know that that. IRS wants to see that -- made progress that you hit the goals -- that's been prescribed and you have to Havel was prescriptions written now are doctors generally eager to help out with this kind of our biggest these days a lot of people -- interest in alternative therapy refuse so. It in addition to -- me like. An alternative weight loss plan you might want the doctor -- prescribe you like -- therapy look at your ailment and so people who actually deducted the cost and swim lessons or getting up pool. Well that's the next currently what let me ask you about the pool of hot yet -- you get that tanning bed deducted on a mile and me and and well that's another -- Jersey Shore got all kinds of look at when their way. You know again. At the day at the IRS is cool with your deductions as long as you can prove that it was in need -- -- now that. -- health isn't -- you know your safety is in need. And so -- that -- doctor prescribes you alternative therapies. Like tiger therapy or maybe he says you may -- she considered. A hot yoga you know what is -- -- that in writing and then a doctor can -- that to the health. Did the hedges -- that -- for you -- That's your evidence for the buyer asks what obviously charitable contributions and donations that can be -- -- itself out what we often forget is that. The money that we invested too. To pick to conduct that charitable act so if you part of baby sitter to go -- the -- the soup kitchen. For a few -- ride that baby -- cost is tax deductible loss in the mileage that you use to get from point a to point B and also -- at the soup kitchen Monty brought. Must do you brought some -- ingredients that you purchase at the grocery store to create those foods tax deductible so if you're do -- -- -- it really and the second -- Yes absolutely and so these little things that you know along the way. At this point in time all and save money on our taxes what we're looking to save money -- any which way. Especially our taxes and this is just sort of you know a cheat sheet for people who may not know these in these tricks to tax -- the -- -- -- the the obscure but the legal which is always yes always -- on -- paperwork right fine line but clear line right that's what I've learned from these tax experts is that. There's a fine line when it comes your taxes but if you can make it clear to hire asked that this is needed for your -- seeking for your nonprofit work. It's it's and it's a good back and write them off right not part of it exactly great advice phrase thanks for being -- about.
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