Some tax-time humor from Intacct's View from the Cloud Blog:
If Christmas is the most wonderful time of the year, tax season certainly falls on the opposite end of the spectrum for most. As many of you are likely filing your taxes today or still recovering from the paperwork involved, take a break and check out our quiz of 10 of the most ridiculous things individuals and business owners have tried to claim as tax write offs. Do you think they were successful or did the IRS make them pay?
Walter White II
It seems one gentleman decided to take what he viewed on the big screen into his everyday activities, à la Breaking Bad. This decision proved to be particularly unfortunate after a hot plate ignited his highly flammable chemicals and erupted into a fire that engulfed the building. The result? He felt this justified to claim a $9,000 casualty loss.
Outcome: Even though he was involved in an illegal activity and acted negligently, the Tax Court allowed him to claim the write-off.
Burn baby, burn
Arsonist for hire, anyone? One struggling business owner sought the assistance of an arsonist to burn his furniture building down in hopes of collection a half a million in insurance money. He very greedily decided to...
Featured Case Study
Elevate Your Mission with Automated Church MetricsRead More
Spreadsheets in Finance: Manual rollups, errors, needless complexity, and simplistic reporting
Church Accounting Basics - Part 4: Employee - To Be or Not to Be
SaaS Delivery Model More Important than Features but Peace of Mind is Tops
AcctTwo Helps Quest Analytics Track Key Subscription Finance Metrics
Baker Tilly Helps Texas Nonprofit Modernize its Finances, Streamline Processes, and Save 50 Hours Per Month
AcctTwo Implements New Nonprofit Management Software for VisitDallas
- Not-for-Profit and Faith-Based
- accounting software
- Cloud Computing / SaaS
- Featured Posts
- Software Evaluation
- View from the Cloud
- White Paper
- Business Intelligence / Analytics
- Financial Reporting
- Financial Analysis, Ratios and KPIs
- Cloud computing
- management reporting
- Sage Intacct
- church accounting