 |
Is it possible to write off the cost of a SPA on your taxes?
Is there any circumstances where you are able to write off the cost of a SPA (Jacuzzi) from your taxes?
Answer:
Hey,
If you are like me, you might not have been able to find the form or line number for ¨home improvement¨ in your 1040 package.
Maybe it is right there beside ¨screw driver¨ but I didn´t see it.
The most common circumstance under which the IRS will cordially greet your hot tub is with a note from your doctor prescibing same.
Unfortunately, it is a medical expense. Medical, on your schedule A, is subject to a reduction of the first 7.5% of your income. So unless you have alot of medical expenses, it won´t help you much.
If your business is incorporated, you might talk to your money guy to go through your corp.
I hope this is some help.
Good Luck.
Back
|
Your answer to this question:
|
|
|
Powered by Yahoo! Answers
|
| |
