Wednesday, June 30, 2010

Tax Tip: Deduct Your Pet | Taxes | Money/Investing | Mainstreet

Tax Tip: Deduct Your Pet Taxes Money/Investing Mainstreet

The tax court allowed a business to claim a $300 deduction for cat food used to attract wild cats in order to prevent snakes and rats from coming into the business’s scrap yard.
Similarly, a business owner may be able to deduct the cost of a guard dog. You can only deduct that portion of Fido’s total time devoted to 'guard-dog' duty. You can deduct expenses relating to the dog, but you cannot deduct the dog itself, although you can depreciate it over its expected lifespan as determined by a local breeder.

1 comment:

  1. My dad had a furniture store when I was growing up. We had a German Shepard dog that would stay in the store at night. I remember my dad's accountant telling my dad to keep records of the dog's food bills and Vet bills so that they could be deducted as security expenses.

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