Everyone dreads tax season. This highly anticipated time of the year can bring a lot of stress, worry and hassle to many of us, making us find ways to boost our tax returns. And for some business owners, they may even hire an eCommerce accountant to help them with this task.
Sadly, many people are clueless about claiming their taxes and forget to do so during tax season, making them miss out on hundreds of dollars for unclaimed taxes. The funny thing is, there are hidden items that you can claim tax returns for. The crazy thing about this is most of them are the common objects in your life.
If you're curious to know the strange and crazy items in the list of what you can claim taxes for, keep reading. In this article, we've compiled all the silly but legal deductions that you can claim during tax season.
The entertainment industry has numerous tax gems that you should know. If you work in the adult industry, one of the craziest items that you can claim tax from is the cost of adult toys, lingerie and costumes. Besides those items, you can also claim taxes from the oils you purchase, toilet paper, lubricants and even condoms.
If you work in the beauty industry, hair styling and cutting tools can give you major tax cuts. Aside from tools, you can also claim clothing-related items connected to the nature of your work.
Performing artists and dancers can also get big tax cuts. Work-related costumes, such as shoes, tights, dresses and even coloured contacts, can be claimed for taxes. Other valid items for tax claims are make-up, transportation, lessons and laundry expenses for the costumes.
Also, if you're a professional athlete or if you're exposed under the sun, you should know that sunglasses, hats and sunscreens can be deducted from your tax.
Real estate industry
One of the silliest things that can boost property investors’ tax returns is those objects you can find in your homes. Some property investors add garden gnomes, fish tanks and clocks in their rental properties because they have the potential to increase tax claims.
Students and remote workers
If you work remotely, you'd be happy to know that you can claim taxes on items you use for work, such as stationery, printers, computers, ink and even your work desk.
For example, when you run an online business, you will most likely be working in the comforts of your home. With that, you'll be using electronic devices that you can claim for deductions. Fortunately, you can ask for assistance from eCommerce accountants to help you with your taxes.
However, if you currently have a job and you're taking classes for it, your taxes can be deductible after the first $250. In addition to that, you can also claim your transportation expenses.
These silly items and expenses are often overlooked and many people think that you can't claim taxes from these. Now that you know you can get some money back from your expenses, you hopefully feel much lighter and eager to deal with your taxes. Thankfully, numerous accounting agents can fit your lifestyle, such as eCommerce accountants, to help you with this gruelling task. So, compile all your receipts and start counting!
Are you looking for an ecommerce accountant in Australia? Get in touch with The Ecommerce Accountant. We are a team of passionate business advisors for online stores and influencers. We focus on giving our clients expert accounting services, cash flow forecasting, business goal setting and much more. Book a free online strategy meeting with us today!