Don't Claim These Deductions!

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There are many items which you feel as legitimate for claiming as a deduction. Any way Irs has made some exact rules under which these items are Not deductible. Let us go through the prominent items in the list -

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Adoption expenditure - You Cannot Deduct Expenses of adopting a child on your tax return. Any way you can claim a credit for those expenses by filing form 8839, mighty Adoption Expenses. Burial or funeral expenditure, along with the cost of a cemetery lot. Campaigning expenses - You cannot deduct expenses of a campaign for a candidate for any office even though the candidate is running for re-election to that office. confident capital expenditure - If you spend some money to buy a property which has a beneficial life substantially beyond the tax year, then such expenses are treated as capital expenses and must be added to the cost of the property. Club dues - The cost of membership in any club organized for business, pleasure, recreation or any other communal purpose is non-deductible. This includes business, social, athletic, luncheon, sporting, airline, hotel, golf and country clubs. Commuting costs - The cost of commuting from your home to your main or quarterly place of work is not deductible. Parking tickets - Parking tickets are issued for violation of traffic rules. You cannot claim such charges as a deduction. Costs on a condition spa - You may try to claim these costs under the intuit - considerable for holding your condition in exquisite condition as a job requirement. However, these are personal costs and cannot be claimed as a deduction. Home safety ideas - If your install a Home safety System, you cannot claim such costs as deduction. Any way if you have a home office, you can claim such cost as a company expense. Life assurance premiums - The premiums you pay on your Life assurance are not deductible. Any way if you pay premiums on Life assurance policies assigned to your old spouse, you can deduct them as alimony. Amounts spent on Lobbying - You cannot deduct amounts paid towards lobbying along with expenses to influence legislation, or to partake in any political campaign. Personal legal costs - Costs for custody of a child, expenses for making ready of a will, damages for personal injury are all personal and hence not deductible. Political Contributions - Contributions made to a political candidate or to a campaign committee are not deductible. pro accreditation fees - Fees paid for their initial right to custom accounting, bar exam fees, healing and dental licence fees to get initial licensing are all nondeductible items. Residential telephone service - You cannot deduct any fee for basic local telephone service for the first telephone line to your residence even though the line is used in a trade or business. Expenditure relating to tax exempt income - You cannot deduct expenditure relating to get tax exempt income like tax-exempt interest. Wristwatches - The cost of wristwatch cannot be deducted even though there is a job requirement that you should know spoton time to accomplish your duties. If you claim any of the above items on your tax return as a deduction, they are literally going to be disallowed and you will be expensed with added taxes as well as penalties for underpayment of taxes. So it is all the time advisable to keep away from all these deductions on your tax return.

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