Tax Day 2018 Facts That Could Save You Some Cash
Unless you file for an extension your taxes have to be filed on or before Tuesday April, 17. Nobody likes paying taxes. So are you sure you are getting all the tax deductions you deserve?
For example Turbo Tax reports that you can deduct your weight loss program like, Jenny Craig, Weight Watchers, Nutrisyste System, etc. from your taxes if a doctor will confirm that your current weight is a treat to your health.
A woman cannot deduct her breast enlargement surgery from her taxes unless it was done for medical purposes. Some exotic dancers try and claim their breast implants as business expenses.
Botox, liposuction, nose jobs, and hair transplants can all be written off as long as it can be shown that the procedure was beneficial to the patient's mental health.
Turbo Tax says boyfriends and girlfriends can now be claimed as dependents. In order to qualify for a tax break, the boyfriend or girlfriend must live with you and earn less than $4,050 per year. You must pay for more than half of their expenses and they can't be claimed as a dependent by someone else.
According to cnsnews Tax Freedom Day 2018 is April 19. That is, if we took everything we made up until that date we will have earned approximately enough to pay the years taxes.
Other Fun Tax Facts from Tax Foundation:
- Americans will pay $5 trillion in taxes this year.
- Americans will spend 46 days paying off their federal, state and local income taxes.
- Americans will spend 26 days paying off sales and excise taxes.
- Americans will spend 11 days paying off property taxes.
- Americans will spend 9 days paying off corporate income taxes.
- Americans will spend 7 days paying off estate and inheritance taxes
The 10 Best Business Tax Climate States are:
- South Dakota
- New Hampshire