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Tax Deduction Consulting: Spa Medical Deductions Mitchell SD

If you are suffering from a medical condition such as Arthritis and your doctor has suggested that you could find relief via soaks in a hot tub, spa, or pool, but the expense of such a project makes it difficult, there is hope. The Internal Revenue Service might end up giving you a helping hand. The cost of a Spa when used for medical reasons is a possible valid medical deduction from your income taxes.

Mr. Todd M. Klein (RFC®), CFP
(605) 348-2433
1241 E St. Joseph St
Rapid City, SD
Company
Fintegra, LLC
Qualifications
Years of Experience: 19
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Tax Returns, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Education Plan

Data Provided by:
Liberty Tax Service
(866) 871-1040
532 E Anamosa St
Rapid City, SD

Data Provided by:
H&R Block
(605) 362-2567
3400 EMPIRE MALL
SIOUX FALLS, SD

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Liberty Tax Service
(866) 871-1040
1520 W 12th St
Sioux Falls, SD

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H&R Block Inside Sears At Rushmore Mall
(605) 399-2114
2200 N MAPLE AVESW Suite 8
RAPID CITY, SD

Data Provided by:
Liberty Tax Service
(866) 871-1040
633 E Sioux Ave # 6
Pierre, SD

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Liberty Tax Service
(866) 871-1040
1943 Dakota Ave S
Huron, SD

Data Provided by:
H&R Block
(605) 332-8081
4601 E ARROWHEAD PKWY STE 101
SIOUX FALLS, SD

Data Provided by:
Liberty Tax Service
(866) 871-1040
5216 W 26th St
Sioux Falls, SD

Data Provided by:
Determan Ross CPA
(605) 996-1166
1130 S Burr St
Mitchell, SD
 
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Tax Deduction Consulting: Spa Medical Deductions

Claim Spa Medical Deduction

If your doctor gives you a written recommendation for frequent swims or soaks, you can claim your Spa or pool as a Medical Deduction.

If you are suffering from a medical condition such as Arthritis and your doctor has suggested that you could find relief via soaks in a hot tub, spa, or pool, but the expense of such a project makes it difficult, there is hope. The Internal Revenue Service might end up giving you a helping hand. The cost of a Spa when used for medical reasons is a possible valid medical deduction from your income taxes.

There are a few catches, of course. The spa or pool must be used primarily for a verified medical purpose for either you or one of your dependents. This does not mean that others may not use and even enjoy using it, but the primary purpose has to be for a medical reason. The deduction will be for the initial cost of installation and for maintenance. The maintenance amount is deductible year after year. When figuring the cost of the installation, the IRS will only allow the basic and most simple costs. In other words, if you decide on something that is fancy and non-standard like imported Italian tile, the extra cost will be deducted from the allowable deduction amount.

It is also important to be aware of the availability of a similar public Spa or pool in your immediate area. If one that could be used just as easily is near by, the IRS might disallow the deduction. You also have to be aware of any increase to the value of your home by the addition of the pool or spa. If a pool costs $25,000, for example, and raises the assessed value of your home by $10,000, only $15,000 would be allowed as a deduction.

Another consideration is the total of your other medical expenses. The IRS uses a deductible that works much like your medical insurance policy. It will not allow deductions that do not exceed 7.5% of your adjusted gross income. So, this figure must be calculated when viewing the feasibility of ...

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