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Tax Accounting Cases. 1. Deducting Cosmetic Surgery Issue: Can Ms. Gorgeous deduct
the cost of her cosmetic surgery enhancements as a medical expense? ...
... Tax Court, and the Small Cases Division of ... specific economic or political goals.”
(“Accounting for Income ... 2). Additionally, income tax policies provide the ...
... and weaknesses also, but strengths more so than weaknesses in some cases. ... Tax accounting-
the purpose of this system is to prepare business tax reports to pay ...
... of the American Jobs Creation Act of 2004 regarding the tax accounting of Attorney's
fees and court costs in civil rights and employment cases in the US. ...
... be lower than the profits computed for accounting purposes ... bad debts, which are not
fully recognized by tax authorities ... In some cases a company may be pre-paying ...
Submitted by dussea3477 on April 29, 2008
Category: Business
Words: 1865 | Pages: 8
Views: 65
Popularity Rank: 102,711
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1. Deducting Cosmetic Surgery
Issue:
Can Ms. Gorgeous deduct the cost of her cosmetic surgery enhancements as a medical expense?
Facts:
Ms. Gorgeous is an aspiring actress who has managed to earn a living doing television commercials.
Decided to have botox injections in her forehead and collagen enhancements to her lips to hopefully move up in the industry.
After the procedures, her career drastically improved and she received movie offers.
Statutory:
Section 213(d)(9) classifies and treats cosmetic surgery as follows:
(A) The term “medical care” does not include cosmetic surgery or other similar procedures, unless the surgery or procedure is necessary to ameliorate a deformity arising from, or directly related to, a congenital abnormality, a personal injury resulting from an accident or trauma, or disfiguring disease.
(B) The term “cosmetic surgery” means any procedure which is directed at improving the patient's appearance and does not meaningfully promote the proper function of the body or prevent or treat illness or disease.
Discussion:
Ms. Gorgeous' cosmetic improvements were solely to enhance her beauty and to hopefully land her a better job. Her procedures had nothing to do with fixing a deformity from either birth, a disease or illness, or even an accident. Ms. Gorgeous claims she has read about another actress deducting a face-lift in 1988 and I believe it is untrue...I haven't found any cases of cosmetic surgery being able to be deducted solely to improve looks.
Conclusion:
The IRR is pretty strict and sticks real close to its beliefs in regards to cosmetic surgery and whether a situation calls for a deduction or not. Ms. Gorgeous' only reason for surgery was to look better even though her career drastically improved after the surgery, however...
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