Wednesday, March 2, 2011

I can't deduct Buffalo Meat?

This case got my attention real quick. Probably had something to do with the 300# of Buffalo meat I brought home from Montana last month…

A professional Body Builder claimed deductions for Buffalo Meat, Posing Body Oils, and Protein Shakes, all as business expenses. He ate three pounds of buffalo meat a day all year round for its healthful protein content. He claimed it was necessary to maintain his competitive physique, making it a business expense.

Unfortunately the tax court killed that idea, reasoning that if it could be eaten by anyone, it wasn’t a professional expense. This reasoning seems a bit skewed, since protein shakes and posing oils can also be purchased by anyone, and they allowed those deductions.

The court said that the reason for allowing the shakes and body oils was that they were marketed only through body building publications and not available to the general public.

Obviously these judges don’t shop in West Hollywood.