Get a Deduction for Pet Expenses.
SimplySOLD donates food and supplies and makes monetary contributions to local animal charities. You may do the same, and if you incur pet expenditures in your home, you could be entitled to a tax deduction. For example, taking care of or fostering a charity’s pets. In a Tax Court case, the court allowed a volunteer’s unreimbursed charitable expenses of over $250 incurred while taking care of stray cats for a recognized 501(c)(3) charity. The deductions included expenses for food, veterinarian bills, kitty litter, a portion of the utility bills and other items. Important to the case was the receipt of a letter from the charity that detailed the amount of the donation (over $250), and that stated no goods or services were provided to the individual in exchange. In order to qualify for the deduction, the letter from the charity must be signed, dated and filed with the donor’s return. If you carry out the mission of a 501(c)(3) charity in your home, ask your accountant if you are eligible for this kind of a tax deduction.