Swimming Pools
If you thought that swimming pools are for the rich only, you’re actually wrong. In certain circumstances, you can actually deduct the costs of having a swimming pool in your backyard.
In fact, a taxpayer already did it! A man with emphysema (shortness of breath) managed to deduct the swimming pool because it was actually put in for his exercise regime. The Tax Court gave him the opportunity to deduct the cost of his pool because he actually improved his breathing capacity.
Uncle Sam saw it as a medical expense because the main reason for having it was for medical care.
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- How Long Do I Need to Keep My Tax Records?
- 6 Ways You Didn’t Know You Were Cheating on Your Taxes
