In the future I'll be wanting work done to my breasts.. do you know how much of the cost I could get back when I file taxes? I'm still new at everything so I'm just learning about filing taxes.
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In the future I'll be wanting work done to my breasts.. do you know how much of the cost I could get back when I file taxes? I'm still new at everything so I'm just learning about filing taxes.
In the US, you can write them off if they're larger than 800cc.
Actually it works like this. The US Congress specifically wrote a law which says that cosmetic surgeries of all types are primarily of personal benefit thus NOT tax deductible as a business expense. A feature dancer ( stage name Chesty Love ) fought this in IRS court on the basis that her HUGE implants were a negative burden in 'real life', thus of no personal benefit, thus legitimately tax deductible. She won the case, thus the 'Chesty Love'IRS Letter Ruling can be cited by other dancers / camgirls / any girl who works in a capacity where 'bigger tits means bigger tips'. But for this to fly, the breast implants need to be 'professional sized'. The accepted standard for 'professional sized' breast implants is 1001+ cc each ... which can be achieved via 800cc saline implant shells which are overfilled to 1001cc +. Since 800cc rated implants are a 'catalog item', the IRS will consider them to be of personal benefit thus not tax deductible.
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In regard to the 'cash value' of the business expense tax deduction for professional sized breast implants, this varies with individual income level / effective income tax rate. For a higher earning serious professional dancer living in a high tax rate state, they could be worth 35-40% of the cost of the surgery.
I would also recommend that you keep ALL of your records regarding the breast augmentation costs, as well as all of your dancer earnings records, because large tax deductions tend to attract IRS audits.
Lots more details on this, and other financial matters applying to dancers, are available in the Dollar Den.