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Tax Deduction Consulting: Exercise Equipment Norfolk NE

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
(402) 393-0049
885 S. 72nd Street
Omaha, NE
Services
Golf Day Shop, Golf Simulator, Golf Trade-In Program, Bike Tech Shop, Firearms/Hunting, Delivery & Assembly
Hours
Monday - Saturday: 9:00am - 9:30pm
Sunday: 10:00am - 8:00pm
Holiday hours may vary.

Sports Authority
(402) 330-4852
L Street Marketplace, 12200 K Plaza
Omaha, NE
Services
Golf Day Shop, Golf Simulator, Golf Trade-In Program, Bike Tech Shop, Firearms/Hunting, Delivery & Assembly
Hours
Monday - Saturday: 9:00am - 9:30pm
Sunday: 10:00am - 8:00pm
Holiday hours may vary.

Morrow Davies & Toelle PC
(402) 371-5300
3204 Koenigstein Ave Ste 200
Norfolk, NE
 
Cazabon Income Tax Service Inc
(402) 371-4221
800 Custer Ave
Norfolk, NE
 
Sobotka Jack Cap PC
(402) 371-0240
214 N 7th St Ste 8
Norfolk, NE
 
Sports Authority
(402) 289-0439
Whispering Ridge Shopping Plaza, 17021 Evans Plaza
Omaha, NE
Services
Golf Day Shop, Golf Simulator, Golf Trade-In Program, Bike Tech Shop, Firearms/Hunting, Delivery & Assembly
Hours
Monday - Saturday: 9:00am - 9:30pm
Sunday: 10:00am - 8:00pm
Holiday hours may vary.

Dana F Cole & Company Llp
(402) 379-9087
1909 Vicki Ln
Norfolk, NE
 
Cruise & Associates
(402) 379-2740
1909 Vicki Ln
Norfolk, NE
 
Taxquest
(402) 379-4354
124 S 5th St
Norfolk, NE
 
Stuthman Financial Services
(402) 371-6745
111 N 9th St
Norfolk, NE
 

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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