Are Bail Bonds Tax Deductible?
Every year when it is tax season, we try and pull together everything we can think of that we could write off as deductions in our taxes: donations, cars, clothes, investments, you name it! Not everything can be tax deductible, as you know. This includes bail; most people who are put into the situation of needing to pay for bail will ask this and the answer is no.
It is not uncommon to ask if bail is tax deductible. After all, bail is money that goes to the government in order to release a defendant from jail for their trial. However, bail serves as a guarantee to ensure this defendant appears in court for their trial. It is like a bribe, because if the defendant does show up, they can have their bail money returned to them...