Wednesday, April 6, 2011

NEVER tax deductible

As I was gathering info on deductible expenses in preparation for tax day I got a chuckle out of the following information my CPA shared with me:

"Some business expenses, even though they may be directly related to your trade or profession, are never tax-deductible:
Bribes and kickbacks
Contributions to political parties or candidates
Dues and membership fees for social clubs
Lobbying expenses
Penalties and fines"

Question: Would somebody goes so far as to ADMIT to taking bribes and kickbacks in order to claim these crimes in a tax return?

Doh!

With best wishes for a "non-taxing" April 18 to all,

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