Tax Time For DJs

Disc jockeys typically don't make much money and save even less. A few years ago, one approached Wyoming CPA Mike Lovelett for some free advice.
"I've got this problem, and I'm really starting to get nervous about it," the DJ admitted. "Several years ago, I was going to owe some tax, so I put an extra deduction on my tax return."
Well, reasoned Lovelett, managing director of Lovelett, Skogen & Assoc. in Casper, it couldn't be that bad. Then the DJ explained: "I put my dog on as a dependent." The radio personality had deducted his dog Red all these years, a move that meant he owed nothing to the IRS.

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