Instead of my dog ate my homework, perhaps your dog can help eat your tax return? and some of the dues associated with it? A new proposal called the H.A.P.P.Y Act, (the Humanity and Pets Partnered Through the Years Act) might just give pet owners one more helpful deduction on their taxes. The idea is to give pet owners a tax deduction of $3,5oo a year on “qualified pet care expenses”, this would include food and vet bills. The deductions would be based on a percent of costs and vary for tax brackets.
Benefits could possibly mean more families will adopt animals from shelters or that families who already have pets can continue to provide them with the best care.
The H.A.P.P.Y act has just been presented to the U.S House of Representatives, we will just have to wait and see what the verdict is!
In the meantime, might want to save any vet bills!
