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Edited for Send2Press by Carly Zander


Funniest Tax Guy In America, Edward Lyon, Releases 2004 Celebrity Tax Deductions

CINCINNATI, OH - March 31, 2004 /Send2Press Newswire/ -- As April 15 approaches, taxpayers are scrambling for last-minute deductions. President Kennedy once called taxes "the price we pay for civilization." But he never said we have to pay retail! Ed Lyon, who has appeared on over 200 television, radio, and Internet broadcasts, says "Let's take a fourth annual look at what some of America's bold-faced names might deduct this year."

Rush Limbaugh's Drug Rehab. Radio host Limbaugh and his hillbilly heroin Oxycontin habit add a political face to this category, whose winners include Charlie Sheen and Robert Downey Jr. Drug and alcohol rehab costs are deductible both liberals and conservatives.

Paris Hilton's Wardrobe. Party girl Hilton's three minutes of fame don't appear to be ending soon. Her "Simple Life" producers outfitted her with a better wardrobe than she revealed in her Internet debut. But none of those outfits are suitable for ordinary street wear, making them deductible uniforms and work clothes.

Kate Spade's Henry. Designer Spade's Maltese, Henry, does more than just commute to the office. The Park Avenue pooch appears in Spade's advertising and even sits in a plastic handbag as part of the new Kate Spade Barbie doll. That should let Kate write off Henry's gourmet kibbles, vet bills, cab rides, and an occasional limo from the Hamptons. Woof!

The Fab Five's Wheels. The "Queer Eye for the Straight Guy" crew dashes to makeovers in a stylish black GMC Denali that costs as much as the average straight guy's salary. Lucky for them Congress raised the annual first-year expensing limit from $25,000 to $100,000, letting them write off the full cost of their ride.

Donald Trump's Hair. New York's top developer pushes architects and designers to redefine style and luxury. His buildings win critical praise and his series "The Apprentice" wins viewers. But Donald, what's with that combover? Tell your stylist, "you re fired!" Then deduct the cost of looking good for your fans.

Britney Spears Divorce Lawyer. Pop diva Spears' marriage lasted just 55 billable hours. Divorce is ordinarily a nondeductible personal expense (and worth every penny!) But she can still deduct legal fees for determining tax-deductible alimony.

Billy Joel's Child Tax Credit. Congress raised the child tax credit to a generous $1,000 and the IRS mailed $400 checks to millions of families. Piano Man Joel can use his to furnish a nursery for new daughter Katie Lee. Oh, I'm sorry . . . she's his fiancé? Never mind . . . .

Arnold Schwarzenegger's Used House. The ex-Terminator is known for his toys, including a garage full of Hummers and a 747. But what does he do when he's done playing? Arnold's campaign disclosures reveal he gave a $2 million house to the Archdiocese of Los Angeles. His gift costs California over $200,000 even if he still can't pronounce it.

Edward A. Lyon is a Cincinnati-based author, speaker, and consultant. He has appeared on over 200 television, radio, and Internet broadcasts, including CNN, Fox News Channel, CNBC, MSNBC, and The Roseanne Show, which dubbed him "the funniest tax guy in America."

For more information, including previous year's lists, visit http://www.taxtuneup.com.



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