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Looking For Last Minute Tax Deductions? Try Making a Ringtone About Yourself!

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last minute tax deductions

Happy Tuesday everyone! I know I ran an infographic last week and I normally only like to post one a month, but I when I saw this one I just had to share it. That, and last week was crazy busy so I did not get a chance to write as much as I would have liked to.

Next week is the tax filing deadline and unless you plan on filing for an extension then the time is a comin.’ As tax season is coming to a close I know that many are looking for last minute tax deductions they can take. Some are easy to find while others force you to be a little more creative.

Being business owners, we’re always looking for tax deductions to take to improve our tax picture which is why this infographic stood out to me. Now that we have a CPA we trust them to help us out in terms of finding deductions, but prior to that the H & R Block platform helped us save quite a bit of money through their deduction finder tools. Please note that I am not a tax advisor and that if you do have any questions on your tax deductions, please consult a tax professional.

Taxes have a way of leveling people and bringing people like celebrities down to the status of ordinary folk. Apparently not all celebrities live the lifestyle of the rich and famous. Part of the reason at least some of them get to being rich is they have taken frugality and turned into an art form.

I mean, what doesn’t scream tax deduction like sending out postcards to remind every American who you are, or writing off the cost to develop your very own ringtone. Speaking of ringtones, what would a Frugal Rules ringtone sound like? I imagine it would be to the tune of Pink Floyd’s “Money” of course! Oh, and if you’re looking for one last minute tax deduction to avoid, don’t follow Oprah in this case who wrote off her $3,000 chair because it was “more flattering;” it might raise a few red flags at the IRS.

Celebrity Tax Deductions

 

 

What last minute tax deduction on the infograph seemed most crazy or most audit worthy to you?

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John is the founder of Frugal Rules, a dad, husband and veteran of the financial services industry whose writing has been featured in Forbes, CNBC, Yahoo Finance and more.

Passionate about helping people learn from his mistakes, John shares financial tools and tips to help you enjoy the freedom that comes from living frugally. One of his favorite tools is Personal Capital , which he used to plan for retirement and keep track of his finances in less than 15 minutes each month.

Another one of John's passions is helping people save $80 per month by axing their expensive cable subscriptions and replacing them with more affordable ones, like Hulu with Live TV.

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53 Comments

  • Jon @ MoneySmartGuides says:

    Here is EXACTLY what is wrong with government spending: Joe Biden spent $16.99 on 250 business cards when he could have gotten them for free on VistaPrint!

    • Justin says:

      I love your way of thinking Jon. That’s exactly what my wife said.

    • John says:

      Lol, I can only imagine Biden using VistaPrint! That said, I could not agree more Jon!

    • Edward Antrobus says:

      The free VistaPrint cards have the VistaPrint logo on the back and say something along the lines of “printed for free at VistaPrint.” Can you imagine the Vice President of the United States handing out business cards with an advertisement on the back? To not have that on the back of your business card, their “premium” business cards start at $19.99.

      Besides the free cards aren’t really free. You have to pay $5.95 for shipping.

    • Brick By Brick Investing | Marvin says:

      Ha!!!

  • My Financial Independence Journey says:

    I have yet to get my Jordan Sparks post card.

    If these celebrities can write off booze, then I should be able to claim my cats as dependents.

  • Greg@ClubThrifty says:

    Jordan who?

    Fun graphic John. Thanks for sharing!

    • John says:

      Exactly, I have no clue who she is. Maybe the postcard was one of those things I throw into the recycling bin without even looking at it. πŸ˜‰

  • Laurie @thefrugalfarmer says:

    SO ridiculous!!!! At least Emeril seems to have his head somewhat out of the clouds……

  • Catherine says:

    hahah OMG this was funny. Thanks for sharing πŸ™‚

  • DC @ Young Adult Money says:

    Jordin Sparks, by far. Great infographic, John!

  • Alan@escapingmydebt says:

    I would rather buy a beer for you John. We can call it a business meeting, right?

  • Justin says:

    It’s nuts how what people spend their money on.
    And Jordan, if you’re reading this, I’m still waiting on my postcard.

  • AverageJoe says:

    Hilarious. The AverageJoe ringtone would be something awesome like I’m Too Sexy or You Shook Me All Night Long.

  • Chris @ Stumble Forward says:

    Great inforgraphic John. Jordin Sparks couldn’t have possibly sent a post card out to every American reminding them who she was, because I didn’t get one. LOL! Thanks for sharing.

  • John says:

    Haha, these are hilarious and depressing. Maybe Mitt Romney wasn’t crazy when he said we need to close some tax loopholes!

  • Pretired Nick says:

    LOL, I think I pulled a muscle rolling my eyes too hard!

  • Kim@Eyesonthedollar says:

    Poor Bon Jovi. Can’t get an invite to the Hall of Fame. I’d pick Head Like a Hole as my ringtone. It talks about the God of Money. Could I deduct that?

    • John says:

      I know, poor Bon Jovi…no love! πŸ˜‰ Gotta love a little NIN action. πŸ˜‰ Sure, that would be deductible. πŸ™‚

  • Mackenzie says:

    Ok, I too have not received my Jordin Sparks postcard!

    But why is no one commenting on Jeff Goldblum and his almost $1100 write-off for antipsychotics?? Whoa…

    • John says:

      You get the prize Mackenzie! I was waiting for someone to mention Mr. Goldblum. πŸ™‚ It makes no sense to me, but have you seen some of his movies? After seeing a few of them I can understand why he would need them. πŸ˜‰

  • Grayson @ Debt Roundup says:

    This is awesome John. These all made me laugh,and the big money that the ringtone saved was definitely worth it. I am also waiting on my postcard Jordin!

    • John says:

      I agree, the ringtone is definitely worth it. πŸ˜‰ I’ll add you to the waiting on hearing from Jordin group. πŸ™‚

  • Sicorra @TacklingOurDebt says:

    Interesting infographic and Oprah’s chair is too funny. Some people are very innovative when it comes to taxes.

    • John says:

      Innovative is a great word for it Sicorra! I agree on Oprah’s chair, though we did not spend that much to furnish our whole living room.

  • Midlife Finance says:

    Hehe heh, I need new business cards too. For 2013, I’ll have more beer/entertainment to deduct. We meet up once in a while to talk about blog so it’s legit.

  • Ian says:

    Now I’m not a tax professional but all of these write offs seem legitimate to me. Personally, I write off the numerous bottles of whisky I consume just to get through the task of doing my taxes. I then take a deduction on the loss of income I incur because I have to miss work due to the consumption of whiskey. This is ok, right? (Read this only with your most sarcastic voice).

  • Brick By Brick Investing | Marvin says:

    Loved every bit of this John! I appreciate the laugh.

  • pauline says:

    haha nice ones! I wonder how Lil Wayne’s accountant charged him for the time to write off the $2.49

  • Shannon @ The Heavy Purse says:

    Love this! Shouldn’t we get some sort of tax right off or credit for having to put up with them? I certainly think so!

  • Jim says:

    Interesting post john, I was talking to my accountant and he said that he claims all costs associated with his dog. He also is a real estate investor and has a lot of people come to his office to pay their rent, and so he says his dog is his “security”. Funny thing is it’s a yellow lab and the most security it would provide is licking you to death! Got a kick outta that!

    • John says:

      Wow, that’s one I’ve not heard of before. I wonder what the IRS would think of the my dog licked them to death argument. πŸ˜‰

  • The Happy Homeowner says:

    This is all ridiculous horse shit πŸ™‚

    But at least Emeril’s was a charity donation!

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