The rise of obesity in the U.S. has cause health costs to sore. Due to these rising costs in health insurance the government is willing to give tax payers a break when it comes to weight loss. This tax break only pertains to people who have medical issues that are affected by weight such as diabetes, heart conditions, and even obesity.
Medical costs for obesity related diseases has sored to an all time high of $150 billion dollars. “To put that in perspective, nearly one out of every ten dollars spent on medical care goes to treat health complications of obesity and secondary conditions (source).”
Here is what the Turbo Taxes Blog says you can and can’t deduct when it comes to weight loss.
What can you deduct on your taxes if you itemize?
What can’t you deduct?
Apparently, these deductions have been available since 2002. However, I don’t know many people who have taken advantage of this tax break. Heck, I don’t think many people in the fitness industry even know about this option. So you tell us … does this deduction give you more incentive to get healthy?? If the government is willing to help you; are you willing to help yourself?