+brian.srock Posted March 3, 2011 Posted March 3, 2011 http://custom.yahoo.com/taxes/article-112227-90c57a35-68b2-3186-aec0-c96c46bf01f5-they-tried-to-deduct-what Aquarium A couple from Rock Hill, S.C., tried to deduct a $1,150, 75-gallon saltwater aquarium as a business expense. The problem? The husband was a self-employed stockbroker. As a result, the court found the aquarium -- along with a Magic Chef electric range oven and the re-covering of a sofa -- to be personal expenses, and therefore not deductible. Quote
+Hydro Posted March 4, 2011 Posted March 4, 2011 I write my tank off my tank expenses so basically everything cost me 30% less. Its in my office so they will have a hard time taking away that deduction from me. I wish I only had $1,150 in my aquarium to write off though lol Quote
+mcallahan Posted March 4, 2011 Posted March 4, 2011 Obviously the IRS didn't find the tank a "reasonable and justifiable" expense since being a stock broker and a fish tank aren't related. Quote
mFrame Posted March 4, 2011 Posted March 4, 2011 Obviously the IRS didn't find the tank a "reasonable and justifiable" expense since being a stock broker and a fish tank aren't related. Unless he was running a stock tank. Quote
+KimP Posted March 4, 2011 Posted March 4, 2011 Unless he was running a stock tank. Good one, lol! Quote
Elizzy Posted March 5, 2011 Posted March 5, 2011 I wish I only had $1,150 in my aquarium to write off though lol I was thinking that too!! Here's a great cnn video on legal deductions. CNN's Is That Really Deductible Quote
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