Skip to content
Andrew Tobias
Andrew Tobias

Money and Other Subjects

  • Home
  • Books
  • Videos
  • Bio
  • Archives
  • Links
  • Me-Mail
Andrew Tobias
Andrew Tobias

Money and Other Subjects

Miscellaneous Deductions and Good Strong Coffee

July 8, 1998February 5, 2017

From Lorraine: “I want to know if it is possible to include software (Pitbull, etc.) and subscription costs (Investors Business Daily, etc.) as part of your cost basis for taxes. Assuming you have any profits!”

A.T.: No. Investment expenses get lumped in with any other miscellaneous deductions you may have – including things like union dues, tax preparation fees, unreimbursed employee business expenses and costs incurred in a job search – and then only to the extent they all exceed 2% of your adjusted gross income, count as a deduction if you itemize. Say you have $600 in investment expenses, $150 in union dues and $40,000 in adjusted gross income. All but $800 of your $750 in investment expenses and union dues would be deductible – i.e., none of them.

One small thought in this regard. In the example above, you might try bunching your investment expenses every second year, so you had $1,200 one year and zero the next. Timing your subscriptions and purchases to work out this way just to get a small additional deduction may seem a bit obsessive – I wouldn’t bother with it myself. But it’s an option.

And now, on an entirely unrelated subject . . .

BLACK COFFEE

I shouldn’t have to tell you this, but some people seem not to get it – every so often you go in to a restaurant where they serve coffee in clear glass cups. Transparent cups. Surely you know coffee tastes watery this way. It must be served, and will taste much more robust, in an opaque cup or mug (white is best). It’s just simple physics.

 

Post navigation

← Geniuses Lose Money, Too
Navigating A Small Boatload of Cash →

Quote of the Day

"The road to success is always under construction."

Winston Churchill

Subscribe

 Advice

The Only Investment Guide You'll Ever Need

"So full of tips and angles that only a booby or a billionaire could not benefit." -- The New York Times

Help

MYM Emergency?

Too Much Junk?

Tax Questions?

Ask Less

Recent Posts

  • A Quick Primer On Stablecoins

    July 18, 2025
  • Putting Women Back Where They Belong; Voting At 16

    July 18, 2025
  • What The CIA Has Concluded

    July 16, 2025
  • "Inigo Montoya" On Netanyahu

    July 16, 2025
  • Carl's View

    July 15, 2025
  • Jesus! A (Surprisingly) Revealing Conversation With DNC Chair Ken Martin

    July 14, 2025
  • Two Things You Can Never Be

    July 11, 2025
  • Anyone? Anyone?

    July 11, 2025
  • "PAPERS PLEASE" -- Trump's Very Own Gigantic Police Force

    July 9, 2025
  • 5 Links And A Joke Walk Into A Bar

    July 8, 2025
Andrew Tobias Books
  • Facebook
  • Twitter
©2025 Andrew Tobias - All Rights Reserved | Website: Whirled Pixels | Author Photo: Tony Adams