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If you had a show dog you could claim him as a deduction.
That is not true. Many people show dogs, but don't have a business related to that dog. I am one of those people If I claim him as a deduction, I would be in violation of the law. If you had a business of showing dogs, or your business WAS your show dog, then expenses related to him would be deductible. But you can't claim the dog as a deduction, like you could a child.
This is the most idiotic defense that I have heard. The fact is that only the very wealthy have enough capital gains to benefit from the tax break. Sure, once you become a billionaire you can take advantage of them too, as if that is actually going to happen.
It's not a defense, it's a FACT. Be careful who you are labeling idiotic, when you claim that only the very wealthy have tax breaks from capital gains. MANY seniors income is taxed as capital gains, and very few of them are very wealthy. It's also not a tax break for capital gains, it's a separate sort of tax that is taxed at a different rate.
I love liberals - they have perfected the art of gross exaggeration.
It's not a defense, it's a FACT. Be careful who you are labeling idiotic, when you claim that only the very wealthy have tax breaks from capital gains. MANY seniors income is taxed as capital gains, and very few of them are very wealthy. It's also not a tax break for capital gains, it's a separate sort of tax that is taxed at a different rate.
I love liberals - they have perfected the art of gross exaggeration.
It sorta tells me they don't invest and just live paycheck to paycheck and put their money in savings accounts or CD's.
The median family household income was $45,800 in 2010.
I like animals too. Why can't I claim my hobby dog; his upkeep isn't cheap either. I'd like to have in inside track to Congress, too: "It’s an expensive hobby but in order to shield themselves from losses, the 1%ers have convinced congress to allow for a tax deduction so that they can write them off."
I can't write off a $400 death benefit. And Congress wonders why We The People hate politicians. It you cheat on taxes to avoid paying them, what else do pols lie about?
LOL I"m sure this has already been said but that's not actually the deduction they took, it was for under $100 if I recall. Either way, it's a therapy animal, not the same as your dog. Stop begrudging people of legitimately claiming tax deductions. Obama's cronies can't even be bothered to pay their taxes.
That is not true. Many people show dogs, but don't have a business related to that dog. I am one of those people If I claim him as a deduction, I would be in violation of the law. If you had a business of showing dogs, or your business WAS your show dog, then expenses related to him would be deductible. But you can't claim the dog as a deduction, like you could a child.
thank you. finally, somebody that "get's it". . . .that horse is not a business, and no deductions should even be claimed, whether granted or not. I certainly never claimed any deductions on any of my horses, and I did essencially the same thing with them, ride, train, show. . . .and I WAS involved in the horse industry, my horses, however, were not a part of that!
thank you. finally, somebody that "get's it". . . .that horse is not a business, and no deductions should even be claimed, whether granted or not. I certainly never claimed any deductions on any of my horses, and I did essencially the same thing with them, ride, train, show. . . .and I WAS involved in the horse industry, my horses, however, were not a part of that!
Do NOT twist my words around. Those deductions ARE legit. I own dogs, show them, and am involved in the fancy. But they are not my business. There are many where that dog IS their business. They can claim deductions.
You must not have been very involved in the horse world not to know that. In most horse businesses, each horse is incorporated and all money toward their upkeep is deductible. But THEY are not. Do you even understand the difference?
Do NOT twist my words around. Those deductions ARE legit. I own dogs, show them, and am involved in the fancy. But they are not my business. There are many where that dog IS their business. They can claim deductions.
You must not have been very involved in the horse world not to know that. In most horse businesses, each horse is incorporated and all money toward their upkeep is deductible. But THEY are not. Do you even understand the difference?
I do, indeed, know the "horse business", and worked as a barn manager for showing and breeding operations for many years. Are you under the impression that Romney's Olympic horse is a "business"? That horse is estimated to be worth 100,000 dollars, with expenses claimed for @ 75,000 each year. Hard to see where money could be made, any way at all, for that. I've got to conclude that it is a "hobby" horse, even if ridden, occasionally, by Mrs. Romney. My personal horses were never in any way a part of the busnisses that I worked for, and I never even thought about claiming any deductions for them!
I don't blame Romney at all for claiming every tax deducation he can. In fact, if it turns out from his tax returns that he paid no taxes at all for some years, I'm ok with that.
What it does show is that there is a need for MASSIVE tax reform so this kind of idiotic deduction for someone like Romney, isn't there.
I don't blame Romney at all for claiming every tax deducation he can. In fact, if it turns out from his tax returns that he paid no taxes at all for some years, I'm ok with that.
What it does show is that there is a need for MASSIVE tax reform so this kind of idiotic deduction for someone like Romney, isn't there.
Can't argue with that. . . .. .:~)
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