News from the American Animal Hospital Association could affect all of us who have pets. If you support this, please contact your legislators!
A recent bill brought before the U.S. House of Representatives could pave the way to making veterinary care more affordable to everyone. One legal expert says that the bill is also a step in the right direction toward a proper designation of companion animals in the eyes of the law.
The Humanity and Pets Partnered Through the Years (HAPPY) Act was introduced to the House on July 31 by Rep. Thaddeus McCotter (R-Mich.)
The bill proposes to amend the Internal Revenue Code to allow up to a $3,500 tax deduction for qualified pet health care expenses for qualified pets. According to the bill, “qualified pet care expenses” means money paid for the care of the pet, not including its purchase, and a “qualified pet” is defined as “a legally owned, domesticated, live animal.”
Tags: cat, dog, IRS, law, pet care expenses
I’ve been interested in taxes for lengthier then I care to admit, both on the private side (all my employed lifetime!!) and from a legal stand since satisfying the bar and following up on tax law. I’ve rendered a lot of advice and rectified a lot of wrongs, and I must say that what you’ve posted makes impeccable sense. Please persist in the good work – the more people know the better they’ll be outfitted to cope with the tax man, and that’s what it’s all about.