I was excited to learn this week of a new bill introduced in Congress that would amend the Internal Revenue Code to allow tax deductions of up to $3,500 annually for “qualified pet care expenses.” I know that many of you, like me, shell out thousands annually for food and vet bills for your adopted animals. If this bill passes, we can write off the first $3,500!
The bill is called H.R. 3501 -- please contact your U.S. Representative or Delegate and ask them to sign on as a sponsor, and ask your Senators to introduce a companion bill in the U.S. Senate. The bill has a somewhat silly acronym, but many bills do these days (it's called the Humanity and Pets Partnered through the Years (HAPPY) Act). It's a concise bill with no fine print and nothing sketchy. It simply defines “qualified pet care expenses” as “amounts paid in connection with providing care (including veterinary care) for a qualified pet other than any expense in connection with the acquisition of the qualified pet,” and creates a tax deduction for the first $3,500 of those expenses.
Note that you don't get to deduct acquisition costs, so it won't encourage people to run out and buy $3,500 puppy mill dogs. The bill may also help relieve the strain on animal shelters, because it removes the financial disincentive to spay and neuter pets, and helps people afford to get their pets vaccinated.
The bill also states that the deduction does not apply to animals “used for research or owned or utilized in conjunction with a trade or business.”
Thanks for reading this, and please feel free to pass it along.
http://fortheloveofthedogblog.com/PDF/H
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