IS A SPEEDING TICKET DEDUCTIBLE
CAN A SOLE PROPRIETOR TAKE A DEDUCTION FOR A TICKET RECEIVED WHILE ON BUSINESS
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dQBS3Q3gWr35qUacfA8pyY
10/20/10 10:10am PDT
Viewed by asker 10/20/10 12:43pm PDT
Viewed by asker 10/20/10 12:43pm PDT
5 Replies
Accountant Man
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Accountant Community AllStar
Advisory council of Accountant community power users.
10/20/10 10:17am PDT
Non-deductible penalty.
If you use Pro Series Basic I might not be able to help you. If you use Turbo Tax I might refuse to help you. All others, watch out! ;-)
ArchieLeach
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Accountant Community AllStar
Advisory council of Accountant community power users.
10/20/10 11:57am PDT
The solution
No. He also can't deduct his legal fees from running over a kid while he was going from one business meeting to another at a high rate of speed.
Morons. I've got MORONS on my team. Nobody is going to rob us going DOWN the mountain. We have got no MONEY going DOWN the mountain. When we HAVE GOT the money, goin' back UP the mountain, THEN you can sweat.
Mt Juliet CPA
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Accountant Community AllStar
Advisory council of Accountant community power users.
10/20/10 12:00pm PDT
Just deductible from your wallet not your tax return
I salute all our current Military and our Veterans.
10/20/10 12:37pm PDT
The logic is that if it was deductible the tax law would be encouraging your client to break another law (traffic)
IRMN
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Advisory council of Accountant community power users.
Intuit Moderator
Mod/Co-mod
10/20/10 3:14pm PDT
Latest post
Look at the bright side - the tickets aren't deductible but if he has accumulated enough of them he will be able to deduct the higher insurance premiums that were generated from the tickets.
If this answers your question please click, um, ok I forgot what you are supposed to click. If this answered your question, how about just saying thanks and we will call it good.
