If you own a pet, you know veterinary bills are a costly but necessary part of pet ownership. In California, pet owners may soon be able to receive a tax deduction for medical costs incurred on behalf of their dogs and cats. On February 16, 2017, Assembly Bill (AB) 942 was introduced to the California Legislature by Assembly Member Mathis. If passed, AB 942 will allow pet owners to deduct half of their medical care costs for their dogs and cats, including vaccinations, check-ups, surgeries, x-rays, prescriptions, up to $2,000. However, no other types of animals are covered by the bill. If passed, AB 942 will be effective for each taxable year beginning on or after January 1, 2017, and before January 1, 2023.
There are no comments for this post. Be the first and Add your Comment below.
Leave a Comment