Politicians are always taking corporations and the super-rich to task for exploiting loopholes in the tax code. Don't you wish someone was yelling at you for paying too little in taxes? Where are the loopholes for the average American taxpayer? The best we can hope for is to take as many deductions as humanly (and legally) possible.
It's tax time again, which means it's time to get creative with those deductions. Can you convince the Internal Revenue Service (IRS) that your pet iguana is a service animal? Can you deduct toilet paper as a business expense because you come up with some of your greatest ideas in the bathroom? Can you deduct your bar tab as a form of stress reduction therapy? No, but you'll give your auditor a good story to tell around the IRS water cooler.
Keep reading for our list of 10 creative tax deductions that won't land you in jail. Think of them as loopholes for the little guy.
Useful Tax Information Resources
The U.S. tax code is millions of words long. These articles will help you to cut through the code and get you the tax tips you need.
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