Do you sport a “stache?” If so, pay close attention because if the American Mustache Institute (yeah, I couldn’t believe that existing either) gets their way then you may have a few more dollars come tax time.
The “AMI continues to battle negative stereotyping that has accompanied the mustache since those glory years of the 1970s—the peak of mustache acceptance—fighting to create a climate of acceptance, understanding, flavor saving, and upper lip warmth for all mustached Americans alike.”
November or “Movember”, is known for people, mostly men, pun intended, attempting to raise money by growing a mustache for men’s health initiatives.
The AMI received some attention because it is supporting “Movember.”
According to Movember’s site, “During November each year, Movember is responsible for the sprouting of moustaches on thousands of men’s faces, in the US and around the world. With their Mo’s, these men rise vital funds and awareness for men’s health, specifically prostate cancer and other cancers that affect men.”
The AMI thinks men who sport a mustache year round should receive a $250 deduction from their Gross Income.
Really? I’m all about charity. I donate 10% of my income to charity every year, but by the pure fact that I go to church every week does that mean I should receive a tax credit for the expenses that it takes for me to get to church?
What do you think about this plan? Every week that you attend church you can deduct $10 off of your gross annual income. So, that would be a $520 tax benefit. If you show up at church with a mustache you get the $520 plus the $250. If you bring your wife who also has a mustache you will receive an annual tax benefit of $1000 because probably has better “Mo” than you do.
In all seriousness, let’s raise the money for the charities without the tax benefit. Not everything that we do in our lives need to have a tax benefit to it. How would the IRS monitor such a claim?
I can see the fine print now! “Please have your before and after photos submitted to be eligible for the tax benefit. “Your picture must be taken by an Officially Licensed Stache Master, located at your local post office (we have to find a way to keep them in business), and delivered to us by the end of 1st quarter and again at the end of the 4th quarter.”
Have fun with life and in the meantime stop by our office, we might be cooking up a warm batch of chocolate chip cookies for you to enjoy with your milk stache!
Disclaimer: Every effort has been taken to provide the most accurate and honest analysis of the tax information provided in this blog. Please use your discretion before making any decisions based on the information provided. This blog is not intended to be a substitute for seeking professional tax advice based on your individual needs.