6 Ways That Your Pet Can Qualify For Tax Deductions

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Sales Taxes

If your state has a sales tax, you can write off even more money from caring for a pet. Filing Schedule A, according to the IRS, and state sales taxes deductions can aid pet owners. It includes pet food cost, supplies, and other items throughout the year that were bought.

Also qualifying for Schedule A are local sales taxes, differing from state variations. You can use Schedule a without saving your receipts by using optional sales tax tables. These let you generally calculate the deduction using a worksheet. Or, you can utilize an online sales tax deduction calculator provided by the IRS.

Before filing any of the above, it's highly recommended that you seek out a tax professional. Have them take a look at all of your deductions. Every year, pets cost Americans around $56 billion according to the American Pet Products Association. Every little bit helps when it comes to tax write-offs, so take advantage if you can.












Categories: Finance

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Chuck Meriwether

Chuck Meriwether is a resident of Tallahassee, FL, and is a public relations manager. It brings him great joy to share his experiences - there are a lot! Some of Chuck's passions include aquatic biology, basketball, and jazz.