TAX DEDUCTIONS FOR OUR PETS - COULD IT BE?
OMG! There's a new bill in the U.S. House that would allow pet owners to deduct up to $3,500 for "qualified pet-care expenses" for household pets (no livestock, sorry!), including vet bills! This HAPPY Act (Humanity and Pets Partnered Through the Years) aims to give pet owners a break. And rightly so! I've spent thousands on my cat's vet bills and would love this deduction!
The bill's primary goals include:
• Making it more affordable for people to provide the care their pets need.
• Making it less likely that pet owners are who suffering during the recession will abandon their pets.
"Qualified pet expenses" include a variety of (still) undefined things involved in providing care, with the exception of acquisition costs (i.e., you can't write off the cost of buying your pure bred show dog).
Some people mock this bill's comprehensive coverage (it's actually better coverage than the write-offs we humans get for our own medical expenses), but the Pet Industry Joint Advisory Council supports the bill and so do I! I mean if the House is willing to entertain it, why can't we? I’ve spent beaucoup bucks curing cancer TWICE. Why not get a tax break? Fingers crossed!
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