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Tax Deduction Consulting: Exercise Equipment Wilmington DE

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
(302) 479-7560
1100 Rocky Run Parkway
Wilmington, DE
Services
Golf Trade-In Program, Ski-Snowboard Jr. Season Lease, Ski-Snowboard/Bike Tech Shop, Hunting and Fishing Licenses, Delivery & Assembly
Hours
Monday - Saturday: 9:00am - 9:30pm
Sunday: 10:00am - 8:00pm
Holiday hours may vary.

Modell's Sporting Goods
(610) 565-9360
1067 W. Baltimore Pike
Media, PA
Hours
10:00AM - 9:30PM MONDAY - SATURDAY
10:00AM - 6:00PM SUNDAY

Sports Authority
(302) 479-7560
1100 Rocky Run Parkway
Wilmington, DE
Services
Golf Trade-In Program, Ski-Snowboard Jr. Season Lease, Ski-Snowboard/Bike Tech Shop, Hunting and Fishing Licenses, Delivery & Assembly
Hours
Monday - Saturday: 9:00am - 9:30pm
Sunday: 10:00am - 8:00pm
Holiday hours may vary.

Delaware Financial Insurance & Investment Inc
(302) 999-7868
2503 Ferris Rd
Wilmington, DE
 
Jackson Hewitt Tax Service
(302) 993-0525
Wilmington, DE
 
Modell's Sporting Goods
(302) 369-1500
1315 Churchmans Road
Newark, DE
Hours
9:30AM - 9:00PM MONDAY - THURSDAY
9:00AM - 9:30PM FRIDAY - SATURDAY
10:00AM - 7:00PM SUNDAY

Modell's Sporting Goods
(610) 284-9800
530 W. Baltimore Ave
Clifton Heights, PA
Hours
9:00AM - 9:30PM MONDAY - SATURDAY
10:00AM - 7:00PM SUNDAY

Modell's Sporting Goods
(302) 369-1500
1315 Churchmans Road
Newark, DE
Hours
9:30AM - 9:00PM MONDAY - THURSDAY
9:00AM - 9:30PM FRIDAY - SATURDAY
10:00AM - 7:00PM SUNDAY

Www Sr Tax Services
(302) 998-2865
1 Cunard St
Wilmington, DE
 
Melvin Levy & Company
(302) 658-3677
1300 N Market St Ste 303
Wilmington, DE
 

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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