'Tis a pity they are ...
Last night while rummaging through my library, I came upon a tragedy written by John Ford in 1629, "'Tis a Pity She's a Whore", and needless to say, with my ever digressive mind, I thought of how "whorish" individuals can be when it comes to declaring tax deductions on their tax returns. I sincerely believe that individuals in the statliest of professions, and the highest of income brackets, often can make street walkers look like nuns in comparison when submitting deductions on their tax returns.
For instance, if all of those noncash charitable deductions that they submitted on their tax returns were truly authentic, I don't think there would be a naked child in all of Africa. I love the valuations they assign to their old clothes: $150 for an old suit or overcoat; $50 for a sweater. $50 for a pair of shoes. $50 for a bag of clothes (i.e., rags). Sure. I can see the needy beating down the doors at the local Goodwill store at those bargain basement prices.
And what about the mileage declared on their $65,000 SUVs for business, with only a pittance allowed for personal use? And all those meals and entertainment deductions for business? Of course, none of those $300 restaurant bills in the swankiest of five-star restaurants were personal. And neither were those $550 nights in the plushest of Boston hotels. Of course not.
And the trips to Poland for a business purchase? And the Mediterranean cruise for a seminar for doctors?
Just because someone has a credential following their name, or a six or seven digit income, that in and of itself does not necessarily mean they are more law abiding and respectable as the poor wench on the street trying to feed a couple of hungry mouths at home.
The Barefoot Accountant—is a Certified Public Accountant, Certified QuickBooks ProAdvisor, operating an accounting, tax, and QuickBooks consulting firm in Berlin, Connecticut, Accountants CPA Hartford, Connecticut, LLC. Bill has instructed graduate and undergraduate courses in Accounting, Auditing, and other subjects at the University of Hartford, Central Connecticut State University, Hartford State Technical College, and Purdue University. He also taught GMAT and CPA Exam Review Classes at the Stanley H. Kaplan Educational Center and at Person-Wolinsky, and is certified to teach trade-related subjects at Connecticut Vocational Technical Schools. His articles on tax and accounting have been published in several professional journals as well as on several accounting websites. William was born and raised in New Britain, Connecticut, and served on the City's Board of Finance and Taxation as well as its City Plan Commission. Bill is a crazed animal lover, feeding birds, squirrels, chipmunks, skunks, possums, stray cats, and any two-legged or four-legged critter traversing through his yard. His backyard in Berlin, Connecticut has been certified as a habitat suitable for wildlife by the National Wildlife Federation.
Bill also writes an Accounting, QuickBooks, and Tax blog: Accounting, QuickBooks, and Taxes by the Barefoot Accountant. For entertaining articles, please see his listing at The Amazing Brighenti.