Watch Shaun White: Russia Calling: It is an Awesome 44 minute Documentary by NBC about Shaun White and his road to Sochi 2014. Two-time Olympic Gold Medalist Shaun White gives a rare, inside look into the challenges and sacrifices that are made in order to be the best in the world.
Although it may not seem like an R&E expense, the cost of obtaining a patent is also currently deductible under Section 174. This includes both attorney fees and patent filing fees. This is one of the largest expenses many independent inventors have.
State and local taxes on personal property, such as vehicles, must be ad valorem taxes to be deductible on your federal tax return. Taxes and fees on personal property that aren't based on the item's value are not deductible. For example, when you pay for the license tag for your car, the charges may include both a fee for the tag and an ad valorem tax. Only the ad valorem part can be taken as a deduction. The tax must be assessed and paid during the tax year for which it is claimed. Write-offs for state and local ad valorem taxes are available only if you file IRS Form 1040 and itemize deductions. Other Deductible Taxes. State and local income taxes and sales taxes are tax deductible on a federal tax return. However, you may deduct only one of these in the same tax year.