Tax Deduction or Credit for Stop Smoking and Weight Control
Your clients may be Eligible to get a tax credit or deduction for their Weight Loss and/or Smoking Cessation Hypnotherapy Programs with an I.R.S. ! Tax laws passed for 2003 onwards mean clients could possibly get a tax credit for money paid for smoking programs. If they do not qualify for the credit, they may be able to claim Stop Smoking programs as a medical deduction.
Clients may also be able to claim weight loss programs as a medical deduction if advised by a physician to lose weight. Tax credits are credits on taxes! Medical deductions are medical expenses claimed that exceed 7.5% of gross annual income.
Stop-Smoking Programs: Include in medical expenses amounts paid for a program to stop smoking. However, do not include amounts paid for drugs that do not require a prescription, such as nicotine gum or patches that are designed to help stop smoking.
Weight-Loss Programs: Include in medical expenses amounts paid to lose weight if it is a treatment for a specific disease diagnosed by a physician (such as obesity, hypertension, diabetes or heart disease). This includes fees paid for membership in a weight reduction group and attendance at periodic meetings. Do not include membership dues in a gym, health club, or spa as medical expenses, but clients can include separate fees charged there for weight loss activities.
Always check with your tax accountant, professional tax preparer or the I.R.S. before claiming deductions or tax credits on your tax returns.