Do tax breaks for pet healthcare make you HAPPY?
Think you deserve a $3,500 annual tax deduction for “qualified pet care expenses”? Think about it. This tax deduction could effectively mean that up to $3,500 of your pet food and veterinary expenses will be 10 to 30 percent cheaper (the degree of savings would depend on your tax rate).
Considering that most responsible pet owners spend about $1,500 every year on their pets , such a proposal might help each individual, or family, support about 2.5 pets a year in the manner to which they’ve become accustomed.
Representative Thaddeus McCotter is the man behind the drive to pass a resolution in favor of such a tax break. He’s is sponsoring the proposed legislation for the Humanity and Pets Partnered Through the Years Act (commonly referred to as the “HAPPY Act”).
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