6 Quirky Tax Breaks You Probably Didn’t Know Existed, From Breast Implants to Babysitters
April 18 is Tax Day, the last day that tax returns for individual income can be submitted to the , with many celebrating money earned back or lamenting the money that they still owe.
Everyone has that one friend or family member who always seems to manage to find the most bizarre or out-of-the-box loopholes to get money back when it coms to filing .
and filings can be extremely nuanced and specific, and many can miss out on potential money in the bank by overlooking deductions that they might qualify for.
Though not everything we purchase or particpate in qualifies as deductible in the eyes of the (sorry, but that all-inclusive trip to Cancun doesn’t necessarily cut it as a medical expense for your mental ), there are some odd expenses that actually do.
From funky wigs to paying for supplies to help teach your students, here are six quirky tax breaks that you might not have even known you were eligible for.
Pet Moving Expenses
No furry friend left behind! If you are being forced to relocate based on your job — whether its a new role or a new location of your current one — the cost of transporting your pets is considered the same as transporting other personal belongings. From toys to food supplies to crates, cages and all of the sorts, moving animals can be an expensive feat. This is also applicable to active military members.
Your boob job may actually be tax deductible, but not for the reasons that you think! If you received a breast augmentation for medical purposes (aka if you receive a mastectomy and then have a reconstructive augmentation thereafter) the surgery is actually tax deductible if you can argue it was on the grounds of health and safety. But if the cosmetic procedure was performed purely for aesthetic purposes, you’re out of luck there.
Similar to breast augmentations, if you purchase a wig and wear it on the grounds of a medical condition (such as hair loss as a result of chemotherapy or alopecia), you can file it in as a medical expense. Again, just like the breast augmentation situation, wigs used for fun are not covered.
Related: Handle Tax Season Yourself This Year
If you’re hiring a babysitter to help take care of your young ones, you might be able to deduct that cost. If you are paying for a babysitter for up to two children up to age 13 or a disabled dependent and the care is taking place while you are at work, that cost could be tax deductible. But if you’re paying your neighbor down the block to watch your kids while you go out for a night on the town, you unfortunately will not be getting any money back.
School supplies are always in high demand for teachers across the country, and many of them are necessary in order for students to fully learn and experience their curriculums fully. But if you’re a qualified K-12 teacher, you may be eligible to deduct a portion of your school supply costs for the year. is power, and it seems as though the IRS agrees.
Out-of-Pocket Charitable Gifts
Making cookies for the neighborhood fundraiser down the street? You might be eligible to deduct the cost of everything it took to make those cookies, from the flour and butter to the container in which you carried them in. This differs from charitable donations and gifts, which are also tax deductible.
Exclusive: Tom Brady Appoints Lowe’s Executive as the New CEO of His Wellness Company TB12
The Richest Person on Earth Breaks Every Rule, and You Should Too
Food Network Star Geoffrey Zakarian Distills the Entire Hospitality Industry Down Into Just 48 Words
Overcome the 5 Common Obstacles Keeping You From Full-Time Entrepreneurship
How This First-Generation American Founder Is Taking on Fast-Food Giants
Want to Improve Your Creativity and Focus? Try Eating Chocolate for Breakfast
How the Creator of Dugout Mugs Hit a $30 Million Home Run With a Business He Started in His Apartment