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Tax Deduction Consulting: Exercise Equipment Casper WY

Since the 7.5% limitations means that someone making an income of $50,000 would be able to claim up to $3750 in medical deductions, there is certainly room for some nice exercise equipment.

Sports Authority
(307) 733-4449
455 W. Broadway Avenue
Jackson, WY
Services
Golf Trade-In Program, Ski-Snowboard Rentals & Jr. Season Lease, Ski-Snowboard/Bike Tech Shop, Firearms/Hunting, Hunting and Fishing Licenses
Hours
Daily: 8:00am - 8:00pm
Holiday hours may vary.

Sports Authority
(307) 632-0712
Frontier Mall, 1400 Del Range Boulevard
Cheyenne, WY
Services
Golf Hitting Cage, Golf Trade-In Program, Firearms/Hunting, Hunting and Fishing Licenses
Hours
Monday - Saturday: 9:00am - 9:00pm
Sunday: 11:00am - 6:00pm Mall store hours may vary.

Wca Group Ins
(307) 234-7325
152 N Durbin St
Casper, WY
 
Operating Engineers Pension Plan
(307) 234-7325
152 N Durbin St
Casper, WY
 
Wca & Local 3 Pension Plan
(307) 234-7325
152 N Durbin St
Casper, WY
 
Sports Authority
(307) 362-4208
1371 Dewar Drive
Rock Springs, WY
Services
Golf Trade-In Program, Firearms/Hunting, Hunting and Fishing Licenses
Hours
Monday - Friday: 9:00am - 9:00pm Saturday: 9:00am - 7:00pm
Sunday: 10:00am - 6:00pm
Holiday hours may vary.

Tax Break
(307) 235-9995
341 E E St Ste 165
Casper, WY
 
Liberty Tax Service
(307) 234-9705
1875 Cy Ave
Casper, WY
 
Sears Income Tax Service
(307) 235-2571
701 Outer Dr
Casper, WY
 
Edward T Hager CPA
(307) 265-2000
300 S Wolcott St
Casper, WY
 

Tax Deduction Consulting: Exercise Equipment

Tax Deductions for Exercise Equipment

The Federal Government often uses the IRS and tax deductions or tax credits to promote social concerns. Obesity is a serious health problem in the United States, so should we be getting tax deductions for Exercise Equipment?

Actually, the Federal Government has made obesity one of those social concerns that taxation can help address. They have done this by allowing liberal tax deductions for treatments and programs designed to combat obesity. These tax deductions are considered medical expenses and are included as such on your tax returns. They are subject to the 7.5% of Adjusted Gross Income (AGI) limitation. So, is there a tax deduction then for exercise equipment?

Well, the catch to the obesity and weight control medical expense deduction is that there must be a doctor's order involved. A doctor must have given you a written order to engage in whatever activity was required to reduce weight. A doctor will normally do this if he considers your weight to present a health risk. It is not impossible that the doctor would request that you increase your exercise rate and might order the use of certain exercise equipment.

Since the 7.5% limitations means that someone making an income of $50,000 would be able to claim up to $3750 in medical deductions, there is certainly room for some nice exercise equipment. However, the doctor's order must be specific that this type of exercise is needed to reduce weight. Merely exercising to maintain a healthy lifestyle would not qualify as a medical expense, despite the wisdom of doing so.

If you are a business owner, section 132 (h) of the Tax Code would allow you to purchase exercise equipment for the use of your employees and this would be an allowable business expense. Your employees would include yourself, of course, and this is a good way to write off the cost of some nice Nautilus exercise equipment. There are many tax advantages to business ownership. The individual taxpay...

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