MYTH :
You Can Deduct the Cost of Personal Training
REALITY :
Personal training expenses are not deductible unless prescribed by a doctor for a specific medical condition.
HOW WE KNOW :
IRS rules specify conditions for deducting medical expenses.
KEY TAKEAWAYS :
Personal Expenses: The cost of personal training is generally considered a personal expense and is not deductible.
Medical Exceptions: Only specific medically necessary personal training expenses may qualify for deductions.
Stay Informed: Understanding what qualifies as a deductible expense is crucial for accurate tax filings.
One common tax myth is the belief that you can deduct the cost of personal training. This misconception can lead to incorrect deductions and potential issues with the IRS. Here's what you need to know to stay compliant and avoid these pitfalls.
Origin of the Myth
Health and Fitness Confusion: Many people assume that all health and fitness expenses are deductible if they contribute to their overall well-being.
Lack of Clarity: There's often confusion about which health-related expenses qualify for tax deductions.
Reality of Deducting Personal Training Costs
Personal Expenses: The IRS generally considers the cost of personal training to be a personal expense, which is not deductible.
Medical Necessity: If personal training is prescribed by a doctor for a specific medical condition, it may be deductible as a medical expense.
IRS Guidelines on Personal Training Deductions
Non-Deductible Personal Use: Personal training for general health and fitness is not deductible.
Potential Medical Deductions: If a doctor prescribes personal training as part of a treatment plan for a diagnosed medical condition, the expense may be deductible as a medical expense.
Why the Myth Persists
General Misconceptions: Many taxpayers believe that all expenses related to health and fitness are deductible.
Anecdotal Advice: Misleading information and anecdotal advice from non-professional sources perpetuate the myth.
Avoiding the Pitfall
Know What’s Deductible: Clearly understand what constitutes a deductible medical expense.
Non-Deductible: Personal training for general fitness, weight loss, or muscle building.
Deductible: Personal training prescribed by a doctor for a specific medical condition, such as rehabilitation after surgery or treatment for obesity.
What You Can Deduct
Medically Necessary Expenses: If your personal training is part of a treatment plan prescribed by a doctor, it may be deductible.
Documentation: Keep detailed records of the prescription, medical condition, and expenses to support your deduction.
Consulting a Tax Professional
Seek Professional Advice: Given the complexities of tax laws, consulting a tax professional can ensure that you are correctly identifying and claiming eligible deductions.
Accurate Records: A professional can help you maintain proper documentation and calculate the correct deductions for medically necessary expenses.
