15 tax deductions parents really deserve
by ParentCo.
April 10, 2015
I recently read an article quantifying the work of a stay at home parent. The writer concluded that if he compensated his wife for all her work (being a nanny, part-time personal chef, personal shopper, housekeeper, and a few hours financial planning) she'd earn an annual salary of $73,960. Amen, sir. A-MEN.
Raising kids is super expensive. But society depends on it, so the government gives parents and caregivers a limited range of tax deductions (like the Child Tax Credit) for raising kids.
However, there are SO MANY MORE deductions we parents should be able to claim. Here are a few for the IRS to consider.
1. The neighbor kid who constantly overstays his welcome, eating and eating all the snacks in the house.
2. Parenting books. Even if you didn't read them. Especially if you didn't read them. Just admit it, you didn't read them.
3. School project supplies. Science fair volcanos aren’t cheap. (Even though they look like something you avoid stepping in on the farm.)
Maybe this is just a "papier-mâché" credit. Either way.
4. Art supplies. Each broken crayon will be carefully itemized and deducted.
5. Diapers. Classify this as a deduction based on depreciation: "the wear and tear of an item used for business."
6. Car seats. Anyone forced to drive around with a tiny plastic throne in their backseat deserves a deduction.
7. Parenting classes. You might not remember what you learned in parenting class, or were supposed to learn, but at least remember to keep the receipt to claim the deduction.
8. Date night. Ha ha, ha. As if. Moving on.
9. Coffee/wine/whatever takes the edge off. Not asking for a deduction actually, just a glass of wine. Thanks.
10. Bike helmets/sports equipment. Athletic supporters deserves a special deduction of their own.
11. Birthday party gifts. If businesspeople can write off carpools and fancy dinners, then birthday gifts should be fair game too. Plus an earned credit for including a handwritten card.
12. Educational outings. Museums, zoos, nature centers. How about a break for expanding the minds of children instead of raising a generation of idiots?
Or at least for keeping gift shop employees on the job?
13. Kids movies. Parents keep an entire industry of crappy animated blockbusters afloat. (It's not the kids that buy the tickets and popcorn.) If you can't give us a deduction for watching these movies with our kids, pay for a babysitter so we go next door to watch a new Tarantino film.
13. Babysitters. If I can write off childcare for when I’m working, why can’t I write off the expense incurred when a teenager comes over so I can go to karaoke? Karaoke night=lifted spirits=more productive member of society.
14. Terrible convenience food purchased while doing errands to prevent nuclear family meltdowns. Don't just do it for parents, do it for the Corn Nut industry. Who else (besides truck drivers) eats those?
15. Non-prescription birth control. Way less fun medical prescriptions like glasses and false teeth are covered. Why stop there?
ParentCo.
Author