Pets & Taxes

Ok, before you get all excited let me just say that you cant claim your pet as a dependent!! We should though, vet bills are expensive. However there are a few ways pets can be deducted without Uncle Sam hunting you down.

Guard Dog

This means that if you bring your dog to work for security and protection, you may be able to claim your fur baby as a deduction. Uncle Sam will be looking for proof though, such as breed of dog. If you try to claim your teacup poodle as a guard dog you’ll  be in big trouble with the IRS. If your dog have guard training this is a huge plus. The more proof (documentation) you have the better.

tip: documentation can include records of how long your dog stands guard and how does your dog help with guarding your business and or property.


Pet Business

You must be really carefully going down this road because the deductions are very tricky with this one. First off, it must be a legit business not a hobby. Secondly your business can’t be any pet business, it must be something where your pet is specifically considered an expense such as a breeder or pet competition.

Guide /Medical Pets

If you have a pet that helps with a disability such as blindness, post-traumatic stress, or warns you before a seizure occur  may qualify as a deductible.  Once again the IRS will be expecting proof of this. You can get documentation from your doctor and any paper work to show your pet completed training.

tip: Keep in mind that this will be a deduction if you itemize deductions, instead of using standard deductions. Also  deductions usually kick in when your medical expenses exceed the required percentage of your adjusted gross income.

Disclaimer: Always consult with your accountant or tax professional before  claiming  your pet(s). You don’t want to get on Uncle Sam’s bad side!! NOLAs Finest Pet Care  aren’t tax professionals.

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