+brian.srock Posted March 3, 2011 Share Posted March 3, 2011 http://custom.yahoo.com/taxes/article-112227-90c57a35-68b2-3186-aec0-c96c46bf01f5-they-tried-to-deduct-what Aquarium A couple from Rock Hill, S.C., tried to deduct a $1,150, 75-gallon saltwater aquarium as a business expense. The problem? The husband was a self-employed stockbroker. As a result, the court found the aquarium -- along with a Magic Chef electric range oven and the re-covering of a sofa -- to be personal expenses, and therefore not deductible. Quote Link to comment Share on other sites More sharing options...
+Hydro Posted March 4, 2011 Share Posted March 4, 2011 I write my tank off my tank expenses so basically everything cost me 30% less. Its in my office so they will have a hard time taking away that deduction from me. I wish I only had $1,150 in my aquarium to write off though lol Quote Link to comment Share on other sites More sharing options...
+mcallahan Posted March 4, 2011 Share Posted March 4, 2011 Obviously the IRS didn't find the tank a "reasonable and justifiable" expense since being a stock broker and a fish tank aren't related. Quote Link to comment Share on other sites More sharing options...
mFrame Posted March 4, 2011 Share Posted March 4, 2011 Obviously the IRS didn't find the tank a "reasonable and justifiable" expense since being a stock broker and a fish tank aren't related. Unless he was running a stock tank. Quote Link to comment Share on other sites More sharing options...
+KimP Posted March 4, 2011 Share Posted March 4, 2011 Unless he was running a stock tank. Good one, lol! Quote Link to comment Share on other sites More sharing options...
Elizzy Posted March 5, 2011 Share Posted March 5, 2011 I wish I only had $1,150 in my aquarium to write off though lol I was thinking that too!! Here's a great cnn video on legal deductions. CNN's Is That Really Deductible Quote Link to comment Share on other sites More sharing options...
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