Emotional Write-Offs
With two hours left to file income taxes, I can't help but think of all the expenses that are written-off as legitimate according to US tax code. What about the costs that aren't monetary, but certainly were incurred for business and educational purposes. What am I talking about? Emotional write-offs. Unlike straight business expenses, like client dinners and utilities, costs associated with love are not recognized at time of payment. Usually it's months and sometimes years before the line item deduction is brought to light. In this tax season I underwent an emotional audit. of the fiscal years of 2001 and 2002. During this time, I lived in England and Japan with my British boyfriend. At the time I thought I was living abroad of out of love. I wanted international intrigue (the highest earned income), but without the hassle of having to pay for a vacation ( lower tax bracket ). By dating an ex-pat transferring from the UK to Tokyo, I had amassed the greatest write- off that effectively increased my deductible allowing for a huge return that sent me on a worldwide adventure. What was the result of the audit? Traipsing through the Alps and across Spain was rewarding, but the truth is we would have never lasted as long if we lived in Brooklyn.
Alas, creative accounting isn't for everybody, but damn it's worth a shot if you can stand the knowing that the truth eventually catches up with you just like the IRS.