This is good to know!
A man who works as a tax advisor shared a video on TikTok and offered a pro tip about a certain something that people might be able to write off on their taxes.
He started the video with a stitch from another TikTok user who asked, “What’s something you found out late in life that you should have known earlier, but you just didn’t?”
The man responded by telling viewers, “Let’s say you have a small business or side hustle. You have a lovable pooch that you just can’t live without. You can write them off on your taxes as a service to the business. It can be positioned as either a guard dog or a certified medical service animal.”
He added that it’s important to keep track of purchases and receipts, but if people go this route, they can also write off pet-related expenses like food.
Here’s his video.
@healerofwallets Rich people write off their dogs on their taxes.. And so can you! its 2024 and almost everyone out here has two things: 1. A side hustle adding money to the house. 2. a pet that’s taking money out. Here’s how you can write that fluffy, lovable, freeloader off on your taxes! Follow @HealerOfWallets for all things money. newyork nyc taxes taxseason taxestaxestaxes financetips financenews pet petlovers personalfinanceforwomen personalfinance personalfinacetips
♬ original sound – Personal Finance Edutainer – Personal Finance Edutainer
And here’s what folks had to say on TikTok.
One viewer nailed it.
Another individual thinks this might not be the best idea…
And one TikTokker is thinking about it…
Put that dog to work!
Good to know!
Now that you’ve read that story, check out this one about a delivery driver who took a $400 grocery order back because she wasn’t given a tip.