Kristie and I are thinking * about getting new boobs , question is could we write these off? Than it had us thinking what can we write off? What are some of the weirdest things we can write off

The rule is:  if you obtain some personal pleasure from it, you cannot write it off.  
There are exceptions to every rule, of course.
Check with a good tax accountant!  There are several who are provider friendly!!

http://www.startribune.com/lifestyle/health/178007681.html

You might be able to claim that you are suffering mental distress and get the taxpayers to pay for it.

That would be a capital expense and
would have to be depreciated! Business
expenses have to be nessary and
proper too!
Incidently Califirnia doesn't have anything to do with the federal code!

Get your doctor to make a case medical reasons. They aren't just ornamental and have biological functions, lol.

Yes but they don't need to be enhanced
to serve that function!

You don't need a doctor to make a case.  They could be deductible as a medical expense.  But your medical expenses must exceed 20% of your income before you can include them.

And that would depend on what you report as your profession when you file your taxes.

Well generally, no. Breast enhancements are considered cosmetic surgery and is not deductible. There is provision if the breast enhancement is reconstructive after an illness it can be deducted as a medical expense on Schedule A (Itemized Deductions).

The business side is more murky. There is a case in FL were a stripper, I forgot who, tried to deduct her implants, the IRS challenged her but lost. The reason was the implants helped her generated more income. So if you to write off a boob job as business expense be prepared to show that the surgery generated additional income than you made before without them.

but their is a catch. Your boob job has to be a size that most normal women would not have. So if you are really petite then go for some DDD'S and you should be just fine. The bigger the better for write off purposes. This comes straight from my hobby tax accountant.

I guess my theory is to stay as out of sight, out of mind as possible. I wouldn't think of including any deductions that may cause the IRS to possibly investigate further. That's just me though. Good luck with what ever you decide to do.

Warm regards,
Leann

As I will also suggest that the gals disregard the statement made by Andrea on behalf of her tax accountant.  That is simply NOT a true statement.

The IRS code is quite specific on what items are deductible, and on what types of income those items will be deductible against.

Frankly, an enhancement is voluntary...hence would not even qualify as a medical expense on Schedule A in most cases.

But...my recommendation is to contact your tax accountants if you are considering this procedure and see what his (her) comfort level would be in recording this transaction.  Just keep in mind that if the IRS deems it frivolous, the preparer is subject to penalties, as well as the taxpayer looking at significant penalties and interest on any underpayments, including tax evasion which, if so deemed, is a felony.

So if you claim income derived from your boobs there may be an oppertunity to write them off..... Of course with Oboma back in, we will lose a lot of deductions so better this year than next. Also in responce to them being a capital expence thus needing to be deprieciated, yes but you may be able to get them in under a rapid or accelerated deprieciation, if your situation fits.

I really do not see where ither ofyou need enhancements, esspecially you Ginger!

Think you could vidio the conversation with your accountant and put it on U-tube for us?

It always cracks me up when I hear people speak of a "write off" like it means that it's essentially free.  All it COULD do is reduce your taxable income, which would reduce your taxes by whatever the cost was times your tax rate.  But I digress...

Say there was a case to deduct them as medical expenses.  Well first the cost would have to exceed 7.5% of your adjusted gross income before it mattered.  And then, only the portion that EXCEEDED that 7.5% would be used to reduce your taxable income.  You'd still wind up footing the lions share of the bill even if it were allowable.  But it's still a moot point. They are considered cosmetic by the IRS, even if completed in conjunction with another procedure such as a sex change.

Re: the "hobby tax accountant."  He's probably referring to the ONE widely known case where a stripper (not an escort) won a case to deduct them as business expenses.  In her case, they were considered to be SO large as to essentially be "props" for her performance.  And again - even then the cost would only be an itemized business deduction that reduces your taxable income, i.e. you'd still be paying for the lions share of the procedure.  So unless you want to pony up for a ridiculously over-sized boob job, and then spend the time and $ in tax court to get a fraction of that back in the form of reduced taxes, you're plain S.O.L.

If you could and I emphaize if you could deduct a boob job, you'd have to capitalize the expense and take the depreciation for it over a number of years, I'm guessing 7 years. Or you could, if you had the income level and I'm assumed you do, expense it in one year using the Section 179 depreciation deduction. Breast implants do have a lifetime, they don't last forever especially the silicone ones I understand.

Your potential tax savings from a business deduction and assuming you are a Schedule C sole proprietor filer would be 15% SE tax + marginal Federal tax rate + marginal state tax rate times the cost of the procedure.

Assuming you're doing well your federal rate could 25% and the state rate about 6.75%.

So that would be .15 + .25 + .0675 = .4675 or nearly half the cost of the procedure. Not to bad if you can pull if off.

Believe me I'd pull off whatever was covering THOSE figures!

-- Modified on 11/14/2012 2:57:20 PM