061 MG What Investment Expenses Can You Deduct?

Money Girl

Macmillan Holdings, LLC

Investing, Education, Business, Entrepreneurship, How To

4.6 • 1.8K Ratings

🗓️ 20 February 2008

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Please "Take 5" and take the listener survey in the right-hand sidebar at http://moneygirl.quickanddirtytips.com.

Transcript

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0:00.0	Hello and
0:05.0	welcome to Moneygirls quick and dirty tips for a richer life.
0:11.0	Today's topic, can you deduct a shredder?
0:15.0	A listener named Charles called in with this question.
0:18.0	Hey money girl, this is Charles E from White Plains, New York, And I was just listening to your episode on what to keep and what to throw away,
0:27.0	and was wondering, at the end, you mentioned shredding everything.
0:30.0	Would something like a high-end shredder be something that would be deductible?
0:35.0	Thanks a lot for a great podcast.
0:37.0	Fine, nah.
0:38.0	Thanks for the question, Charles.
0:40.0	Did you know that the paper shredder was invented in
0:43.2	1999 by a fellow New Yorker from Horseshoe named Abbott Lowe?
0:48.3	Well it was and if you ever get that question in a game of trivial pursuit.
0:52.7	You'll have the answer.
0:54.4	Okay, before I jump into answering your question,
0:57.6	I want to clarify a point.
0:59.8	In last week's episode, I mentioned shredding just those financial documents that there's
1:05.0	no need to hang on to.
1:06.8	There are many documents that you definitely need to keep, so don't shred everything.
1:12.0	And now on to the answer to the question.
1:14.3	The answer is, maybe.
1:16.9	The IRS allows the cost of tax preparation fees
	...

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