Playboy magazine doesn't seem like the most common reading material for a doctor's office. But one Pennsylvania doctor tried to deduct the cost of a Playboy subscription as a business expense, along with all the other magazines he gets for his waiting room.
Magazine subscriptions can be deducted for certain types of businesses, including medical practices since they are used to make patients more comfortable while they wait for their appointment. They can also be deducted if they help someone in their business or occupation -- cooks, for example, may deduct cooking magazines.
But this doctor was pushing his luck with the Playboy subscription.
"There is no business purpose for a doctor to be reading a Playboy magazine and this is not the type of reading material you would want to leave lying out in the waiting room for patients -- perhaps even children -- to read. So for this reason, there was no viable business reason to deduct this magazine," said Anabella Hampton, a preparer at accounting firm TBRE Consulting who prepared this client's return.
Taxpayers can claim up to $13,360 for each child they have adopted in the past 6 years.
|America's economic mobility myth|
|Treasury closes the book on GM bailout with final stock sale|
|Snowden docs had NYTimes exec fearing for his life|
|Where should you put your money now?|
|The economy: The 2014 outlook|