From the Rich Get Richer Department

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From the Rich Get Richer Department

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07-16-2014, 01:45 PM

spdrun

Registered User

Join Date: May 2011

Location: NYC

Posts: 6,030

Quote:

Originally Posted by mgburg

So...if I get a ticket, for speeding, say...for $260.00, I can deduct $140.00 of that fine from my taxes next year?

COOL!!!

Oh...I have to be a "big boy" to get those kind of deductions...

Who says taxes are for the rich only?

It's not a fine; it's more of a lawsuit settlement. And yes, small businesses can deduct losses from legal action as well.

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