You may be able to deduct expenses for qualified pets.
The price of a trip to the veterinarian can be a shock; while office visits are usually less than a hundred dollars, an emergency trip for a car accident or poisoning can easily stretch into thousands of dollars. The Internal Revenue Service allows you to deduct veterinary expenses under limited circumstances.
Health Care for Your Pet
Whether you've taking Fido or Fluffy to the veterinarian's office for an annual checkup, you know how staggering the costs can be. Drugs, IVs, surgical equipment and staff all add up to the costs of health care for your pet. Veterinarians spend as much time in school as their medical doctor counterparts, and yet, while health insurance is widespread, veterinary insurance is usually limited in scope and pays out only a fraction of the true treatment cost.
Covered Domestic Animals
The Internal Revenue Service does not allow you to take deductions for veterinary expenses if the services were performed for a pet. However, certain service animals' expenses may qualify for the deduction. If you have a physical disability and are assisted by a service animal, that animal's veterinary expenses can be deducted on your tax return. Eligible service dogs include seeing eye dogs, hearing dogs and dogs that assist with any other physical disability.
Eligible Deductions
Veterinary expenses and fees for qualified animals can be deducted, including vaccinations, medicines, office visits and emergency treatment. Another allowed deduction is money you paid to buy, train or maintain a qualified service animal. For example, if you had to purchase your dog, that is a deductible expense. Food is also a qualified expense; it's considered maintenance for your animal, so make sure you keep all of your food bills for the year.
Restrictions
Some restrictions apply as to what you can deduct on your taxes. Even if you are claiming qualified expenses for a service animal, you cannot deduct those expenses if you have already been reimbursed by an organization. For example, as of January 2011, if any costs were reimbursed to you through the Guide Dogs for the Blind Veterinary Financial Assistance Program or your state supplemented dog food program, you cannot deduct those expenses. In addition, because you declare the veterinary costs under medical expenses, you can only claim the deduction if your total medical costs exceed 7.5 percent of your adjusted gross income.
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