Tax season is in full swing and people are trying to deduct all that they can. The United States tax code allows for many unusual but legitimate tax deductions, tax credits, and exemptions. For example, hot tubs and swimming pools are not just for the rich and famous. If you have a medical condition that a good soak or swimming regimen could help—you could write off the expense of a new pool… as long as you’ve got a doctor’s note. Here is a sampling of some of the more noteworthy unusual tax breaks that have been successfully claimed. Some of these might even apply to you.
SACRAMENTO, Calif. (AP) — California prison officials are setting the first standards for which transgender inmates should receive state-funded sex-reassignment surgery after spending years in court fighting to block the operations.
The story of Cuba's first transsexual to undergo gender reassignment surgery is coming to the big screen in a documentary getting its premiere Wednesday on the Communist-ruled island, its director said."Mavi Sussel underwent (male-to-female) gender reassignment surgery in 1988 and the documentary is a journey inside this woman, and about the prejudices and problems she has faced, and the questioning of her womanliness," filmmaker Marilyn Solaya said, quoted on the official news agency AIN, ahead of the film's launch Thursday.
Your IRA isn’t an HSA. Last week I was asked whether there was a penalty for taking money from an Individual Retirement Account to pay for surgery. I said there was no penalty, but that it was taxable income. The person who asked was surprised and confused, thinking that penalty and taxation are the same thing. They aren’t.
OTTAWA — More than 165,000 people seem to have voted improperly in the last election, a new Elections Canada report has found, and the system for voting needs to be overhauled, although there isn’t enough time to do that before the next election.
Chief Electoral Officer Marc Mayrand commissioned the report after irregularities in the Toronto riding of Etobicoke Centre led to a court challenge that went to the Supreme Court of Canada.
An article by doctors David U. Himmelstein and Steffie Woolhandle, published by the Boston Fed, gives a stark picture of the extent and severity of medical indebtedness in the US, and why Obamacare won’t remedy that problem. And we’ll discuss later that getting the machinery running looks likely to be another serious shortcoming with the program.