Of interest to all of us!
Monday, October 27th, 2003Fighting Obesity Is Tax-Deductible
IRS Says You Can Deduct Prescribed Weight-Loss Plans
By Jennifer Warner
April 3, 2002 — The battle of the bulge is about to get a little easier on
your pocketbook. The Internal Revenue Service issued a ruling Tuesday that
officially recognizes obesity as a disease — making physician-prescribed
plans to treat it tax-deductible.
Experts say the ruling may set a precedent for insurance companies and other
government-sponsored programs like Medicare to offer coverage for obesity
programs.
But the new deduction will likely only apply to a small percentage of people
who are trying to lose weight. The ruling does not apply to people who want
to shed pounds in order to improve their general health and appearance.
Fees associated with joining weight-loss programs, such as Weight Watchers,
Jenny Craig, and others, and attending meetings are now deductible expenses
(more…)