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Loosing Weight Could Mean Tax Break

CarbLO Posts: 30 Joined: 2003/05/07	2003/05/19, 12:27 PM Your diet may be tax deductible, the nation's tax collectors say. The Internal Revenue Service issued a ruling Tuesday saying that fees paid for weight-loss programs -- when ordered by a physician as a treatment for disease such as obesity or high blood pressure -- qualify as a medical deduction. But the cost of diet foods is not deductible, nor are fees paid for weight-loss programs merely to improve appearance or general health. The IRS said diet foods merely substitute for other foods that taxpayers would normally but, and food in general is not deductible. As a practical matter, the ruling will reduce taxes for only a few. Only 4.6 percent of tax returns currently list medical expenses large enough to reduce the taxpayer's tax bill. Medical expenses in general are deductible only to the extent that they exceed 7.5 of the adjusted gross income. The IRS has no immediate estimate of how many additional taxpayers might reach that level by adding diet-program fees to other medical expenses -------------- "Whoever loves Instruction loves Knowledge, But he who hates correction is stupid." Proverbs 12:1
jhadams Posts: 175 Joined: 2003/03/27	2003/05/19, 03:30 PM Hmmm, what would be better is if they subsidize gym memberships. Too many people would try and substitue lose weight fast gimmicks....