Parking ticket deduction: Don't pass go — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
Q. My company is located on a street where it’s difficult, if not impossible, to park legally. I drive my car some days, and it’s inconvenient and extremely costly to use a garage or lot. Can I deduct the cost of any parking tickets as a business expense? L.S.G., Brooklyn, N.Y.
A. Creative idea, but sorry. Certain types of expenses are never tax deductible, even if they relate to your business, because of public policy. That includes government-imposed fines, such as tickets for parking violations, speeding or reckless driving. However, you can deduct the cost of legitimate fees for parking your car.