Wednesday, March 23, 2011

Tax Advantage of Weight Loss Programs! (YES!!)

Got this from a Yahoo Finance article:

Weight Loss (Sometimes)

As with any medical expense, this one can get tricky come tax season. As a general rule, costs associated with a weight-loss program are only deductible if there's a medical justification. To quote the Internal Revenue Service, "You can include in medical expenses amounts you pay to lose weight if it is a treatment for a specific disease diagnosed by a physician (such as obesity, hypertension, or heart disease)." Lap-band surgery, which is only used in cases of health-threatening obesity, is also deductible.

But there are limits: Your doctor might suggest that you start eating healthier, but that doesn't mean you can start deducting the cost of vegetables, says Jackie Perlman, principal tax research analyst for the Tax Institute at H&R Block.


The article:

6 Unexpected Tax Deductions


Yours in Health, Wellness, and a Fabulous smelling home/office,


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