Monday, September 11, 2017

Some Nondeductible Items

Old Scottish Parable-May all your income be tax exempt and all your expenses deductible.  Below is a list of nondeductible expenses: commuting, club dues, parking tickets, life insurance, political contributions, personal living expenses, funeral expenses, gambling losses, hobby losses, loss from sale of a personal residence, personal credit card interest, divorce legal fees not related to tax matters, and personal licenses and fees like a driver's license.

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