Emotional Write-Offs
With two hours left to file income taxes, I can't help but think of all the legitimate expenses written-off according to US tax code. What about the costs that aren't monetary, but 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 for 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 (a higher 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 effectively increased my deductible allowing for a huge return that sent me on a worldwide adventure. What did this recent audit reveal about my massive write-off? Traipsing through Europe and Asia was rewarding, but my relationship would have never lasted as long if we were Brooklyn.
Alas, creative accounting isn't for everybody, but damn it's worth a shot if you can stand knowing that the truth eventually catches up with you just like the IRS.