10 Pet Related Tax Write-Offs You Should Know About
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[heading style=”1″ color=”#006666″ style_color=”#006666″]1. Celebrity Pets[/heading]
Being a celebrity is tough work, and it deserves a tax break – especially if your pet is bringing in an income (Grumpy Cat comes to mind). If you are making money with your pets, then you may be eligible for a deduction.
Let’s say that you dog is a model and earns $50 in modeling fees. You are then able to deduct $50 in feeding expenses to keep that model in perfect working condition.Â
Just remember that even your dog or cat is making more than you, you need to be sure everything is related (to your business), reasonable (no Rolex watches for your pets), and well-documented.Â
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