10 Pet Related Tax Write-Offs You Should Know About

[heading style=”1″ color=”#006666″ style_color=”#006666″]2. Guard Dogs (with your pets)[/heading]

According to Cliff Ennico (Entrepreneur), the ongoing care of a guard dog is a write off, but not the dog itself. For example, if you paid $2,000 for a trained guard dog, you can total the expenses and write off a portion of them (the percentage of time a dog spends guarding). This only applies to business and inventory.  Though it may seem rather obvious, your dog most also be guarding your inventory.

Another interesting tidbit: While you can deduct expenses relating to the dog, you can’t deduct the dog. However, you can depreciate the value of the dog over its expected lifespan as determined by a local breeder. So, there’s that…