Finally, a bill has been proposed that would allow you to deduct medical expenses from your tax bill!
Oh, not your medical expenses and insurance. This is for your pet’s expenses. You would still subject to these rules:
You can deduct only the amount of your medical and dental expenses that is more than 7.5% of your adjusted gross income.
Of course, employers get to deduct the full amount of the premiums for providing health insurance, but if you decide to buy it yourself you don’t get the same benefit. And it would be ludicrous to propose such a thing for people until those benefits have first been given to dogs and cats.
If this bill passes, what’s the over/under on how long it will take for video to be released showing ACORN workers encouraging people to claim 3 of 13 nonexistent exotic pets smuggled in from Central America as dependents in order to get a tax break?