Should pet expenses be tax-deductible?

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Finally! I’ve been saying for years that there
should be some level of tax relief for those of us who dedicate our income to
our pets!

That there is actual
legislation being drafted is certainly a step towards a lively conversation on
the subject. It also validates what we already know about the importance of
pets as part of the family.

Actor-director Robert Davi writes in The Washington Times:

In 2008, the American Pet Products Manufacturers Association estimated
that Americans spent more than $41 billion on their pets. Being allowed
to use these expenses as deductions would positively affect the tax
burden on a majority of American households. I am pleased to report
that Rep. Thaddeus McCotter, Michigan Republican, is taking the lead on
this, working closely with us to write legislation.

Using the tax code to encourage positive behavior is a common
practice. About 500,000 Americans are able to receive a tax credit for
up to $3,150 for owning gas-saving hybrid cars. Many cities and states
also reward hybrid-vehicle owners with access to HOV lanes and
additional tax breaks. Why not allow a tax exemption for pets that
would reward Americans for behavior they already are following to
improve their health and well-being?

Every city in America spends tens of millions of taxpayer
dollars on programs for abandoned animals. Like many government-funded
programs, they overspend and underperform. By contrast, a tax exemption
for pets would add to the education and rescue efforts and bring an
added incentive to responsible prospective pet owners.
(Read the full article here.)

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