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"Funniest Tax Guy in America" Releases 2010 Celebrity Tax Deductions

By Edward A. Lyon

Supreme Court Justice Oliver Wendell Holmes called taxes "the price we pay for civilization." But he never said we have to pay retail! As April 15 approaches, let's take a look at what some of our favorite bold-face names might deduct this year as prepared by Edward Lyon of www.CertifiedTaxCoach.com.

Tiger Wood's Sex Rehab - Previous winners in the celebrity "rehab" category have struggled with booze and drugs. But golfer Tiger Woods breaks new ground with his addiction to Vegas cocktail waitresses. Good thing that rehab costs are a deductible medical expense.

Conan O'Brien's Job Hunt - Conan worked decades to earn his dream job hosting "The Tonight Show," then lost it just seven months later. Fortunately, job-hunting expenses (including hair gel and Internet access to write letters to the "people of the earth") are deductible as a miscellaneous itemized deduction.

The Jersey Shore's "GTL" - TV's latest dysfunctional family, the cast of MTV's "Jersey Shore" can deduct their "bumpits" and their "GTL" as hit the road for personal appearances. And "GTL," that's "gym, tans, and laundry" for those of us not living on the Jersey Shore."

Brett Favre's Retirement Party - Yes, he can deduct it again this year. When he stops retiring, we'll stop writing about it.

Octomom's Exemption-Palooza - When will she stop with all those kids? Octomom" is accumulating personal exemptions like there is no tomorrow. Sure, she can claim $52,500 in personal exemptions - plus another $14,000 in child tax credits, but will it be enough to cover all those diapers?

Jon & Kate Plus Divorce Lawyer - Why is divorce so expensive? Because it's worth it! Especially when your ex makes off with $235,000 from your joint account! Most of the Gosselin's divorce attorney fees are nondeductible personal expenses; however they can still deduct legal fees for determining tax-deductible spousal support.

Wyclef Jean's Charitable Gifts - Wyclef Jean has helped Americans donate millions in the wake of January's deadly Haiti earthquake. But did you know that Congress passed a special law letting us "accelerate' our donations - even the $10 text-message gifts? Wyclef can deduct cash gifts, plus volunteer expenses he racked up in the name of his relief efforts.

It's always fun to see how our favorite celebrities cope with their taxes, but the real key to beating the IRS is planning. And for more information on proactive tax planning contact www.CertifiedTaxCoach.com.

For interviews with Edward A. Lyon contact: Jeff Abraham at Jonas Public Relations at (310) 656-3355 or jeff@jonaspr.com

Edward A. Lyon is Vice President of the American Institute of Certified Tax Coaches and a nationally recognized author, speaker, and consultant. He has appeared on over 200 radio and television broadcasts, including CNN, Fox News, CNBC, MSNBC, and was dubbed "The Funniest Tax Guy in America" by Roseanne Barr.