1. Deducting Cosmetic Surgery
Issue:
Can Ms. Gorgeous deduct the cost of her cosmetic surgery enhancements as a medical expense?
Facts:
Ms. Gorgeous is an aspiring actress who has managed to earn a living doing television commercials.
Decided to have botox injections in her forehead and collagen enhancements to her lips to hopefully move up in the industry.
After the procedures, her career drastically improved and she received movie offers.
Statutory:
Section 213(d)(9) classifies and treats cosmetic surgery as follows:
(A) The term “medical care” does not include cosmetic surgery or other similar procedures, unless the surgery or procedure is necessary to ameliorate a deformity arising from, or directly related to, a congenital abnormality, a personal injury resulting from an accident or trauma, or disfiguring disease.
(B) The term “cosmetic surgery” means any procedure which is directed at improving the patient's appearance and does not meaningfully promote the proper function of the body or prevent or treat illness or disease.
Discussion:
Ms. Gorgeous' cosmetic improvements were solely to enhance her beauty and to hopefully land her a better job. Her procedures had nothing to do with fixing a deformity from either birth, a disease or illness, or even an accident. Ms. Gorgeous claims she has read about another actress deducting a face-lift in 1988 and I believe it is untrue...I haven't found any cases of cosmetic surgery being able to be deducted solely to improve looks.
Conclusion:
The IRR is pretty strict and sticks real close to its beliefs in regards to cosmetic surgery and whether a situation calls for a deduction or not. Ms. Gorgeous' only reason for surgery was to look better even though her career drastically improved after the surgery, however the surgery was still for pleasure. After studying this case and reading understanding the facts, Ms. Gorgeous is not entitled to a deduction and if she would try to deduct it I'm sure she would lose this case.
2. Income from Donation of Blood
Issue:
Does Samantha have to include the funds she receives from blood donation as gross income?
Facts:
Samantha is unemployed for some time and is very short on money
Finds out that the local blood bank has a sever shortage of her blood type
The blood bank is willing to pay $120 for each blood donation
Samantha gives blood twice a week for 12 weeks, 24 payments of $120 equaling $2,880
Statutory:
Section 61 of the tax code says that gross income is defined as:
“Except as otherwise provided in this subtitle, gross income means all income from whatever source derived, including (but not limited to) the following items:
phone bill, and her loan. Being a certified nurse’s assistant means she works tirelessly for days, doing
Deformities and problems caused by injury or accidents and others like Neurosurgery that involves the brain, nerves, spinal cord,
Cosmetic surgery is essentially not a bad thing. Some people suffer facial and body injuries or are born with a deformity which can only be corrected by plastic surgery. Cosmetic surgery can also be a life saver in cases of extreme obesity. However, some people-especially young females- are becoming too obsessed with their looks and body. The quest of finding the perfect body has led many to the operating table, opting for multiple cosmetic surgeries.
Most people believe that having cosmetic and weight loss surgery will help solve all their problems in life. Unfortunately, that does not always happen. These surgeries come with more negatives then positives and can cause numerous long term problems for a patient. The first negative for cosmetic surgery is the pain. Most surgeries are aggressive and involve having to take several pain medications. The recovery time can be between a few weeks all the way up to at least 6 months. Depending on the procedure and how well the patient is able to tolerate pain. There have been many scenarios where the cosmetic procedure “has gone wrong”. This can leave the patient with permanent damage. These surgeries can also be extremely expensive. Other than minor procedures, most cosmetic surgeries start at four thousand dollars and only go up from there. Most insurance does not cover “surgery for cosmetic purposes”, so the patient has to come up with the entire payment, which usually leaves them in debt. There is always the negative effect of havi...
But it’s to expensive for that and like what Gabrielle said teens do this when there body isn’t finished growing. And it’s addictive, sure, you'll think it's just this one time -- that's probably what Joan said. But countless plastic surgery addicts have said the same thing. In 2011, Cindy Jackson, broke the world record for having the most cosmetic procedures. Jackson, 55 at the time, has spent around $100,000 on procedures including facelifts, nose jobs, and lipo since she first started in 1988. "I didn't set out to break, to set a world record, it was never my ambition, it's just that I had so much done," she said in an interview with
Sullivan, Deborah A. "Tightening the Bonds of Beauty." Cosmetic Surgery: The Cutting Edge of Commercial Medicine in America. N.p.: Rutgers UP, 2001. N. pag. Print.
Many startling statistics surround the topic of plastic surgery. The strong economy of the 1990's, and the decrease in the average amount of children, is what many credit for the excess income that has allowed for "discretionary spending" on plastic surgery. An opportunity to improve one's self-image at what seems to be a fair deal. Cosmetic surgery fees, as reported by the Sun-Sentinel, range from a modest six thousand for a complete facelift to a meager five hundred for a partial chemical peel. Once you have completed a consultation with the chief surgeon, or a patient coordinator, a financial arrangement is typically available through some type of assistance program. While women make up most patients, (Neimark 9), men represent 13% of current patients. This trend has been on the rise mainly because of the mainstream acceptance society has of plastic surgery. In addition, the expectations of women are strongly based upon their physical beauty, especially in the workplace. Yet some link the psychological need for an acceptable body image to the fact that plastic surgery helps emphasize the feminine and masculine features that many desire. Is this national ob...
Hilary Duff Plastic Surgery has helped her in reclaiming the title of one of the most beautiful Hollywood actresses of all time. She has undergone cosmetic surgeries for breast augmentation, rhinoplasty and lip enhancement which has brought her back into the public eye.
1. Did you know that blood donated to the American Red Cross saves XXX lives per year?
As it turns out, plastic surgeons have now much easier procedures to treat busy men who don’t want to spend a lot of time in resting after the facelift procedure. Also, the procedure doesn’t cost much as an elaborate surgery. Those who want a facelift can also work with their insurance find the right plan for their treatment. Technologically advanced and minimally invasive procedures also work wonderfully in treating the saggy skin, puffy under eye skin and wrinkled forehead. According to many reports on cosmetic surgeries, it is true that men often opt for permanent skin-lift instead of a temporary one. No matter what they choose, these procedures surely leave a patient’s skin look tight, attractive and a few years
According to Accounting Theory: Contemporary Accounting Issues by Evans, accountants have developed two alternative approaches to accounting for income taxes, which are the cash method and the allocation method. The cash method is described as a simple and direct approach. The amount of income taxes actually paid for the year is reported on the Income Statement. The amount comes from the firm's income tax return and fit is not adjusted in any way. Therefore, the firm's actual transaction to record its income tax liability is the basis for the amount of the income tax expense reported on the Income Statement. The allocation method is a bit different. The actual amount of tax that is paid in the year is ignored when it comes to reporting income tax expense on the Income Statement. The amount of income tax expense reported on the Income Statement is based on the on the income tax rate that the firm pays, which is applied to the amount of pretax income. This makes the Income Statement perfectly consistent with the before-tax income. Using the allocation method makes it look like all items on the Income Statement based on the same method.
While many people think that cosmetic surgery can help them to reach the flawless beauty, it may be true that their actual inner illnesses or lack of confidence in themselves is still not
Specific Purpose Statement: To inform the audience about the criteria for becoming a blood donor
In view of the rising costs of blood, the hospital tried to have sensible discussions with Red Cross and their answer was quite simple and disappointing and that was, for the hospital to get other blood suppliers if it simply didn’t like their prices. Carolinas Healthcare System was not the first to get such a blatant answer and neither was it to be the last. The hospital understood that though the Red Cross had their headquarters in Charlotte, and a national blood testing lab, decisions were not made from within but from St Louis. Based on this, they would not be expecting any considerable action as St. Lois never showed any interest in solving Carolina’s
The world of cosmetic surgery is one of the largest and fastest growing industries worldwide, bringing in billions of dollars each year with cosmetic procedures that both men and women are having, in order to improve their looks, self esteem, and fulfilling societies norms and values. Cosmetic surgery has been accepted in certain cultures, this is a way of expressing who the person is. In my opinion cosmetic surgery is a good thing for individuals to pursue. As cosmetic surgery improves mental and physical well being, cosmetic surgeries through media, as cometic surgeries are improving health related issues, and creating opportunities for people.