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re: Can gym memberships be deducted as a business expense...
Posted on 10/14/08 at 10:59 pm to Tigerpaw123
Posted on 10/14/08 at 10:59 pm to Tigerpaw123
quote:
I personally think that a majority of the physical therapy business is just a big racket, but hey, that's just me.
quote:
I hope you remember this when you or one of your family members needs to learn how to walk again
to Tigerpaw123
This post was edited on 10/14/08 at 11:01 pm
Posted on 10/15/08 at 10:45 am to Chicken
quote:
Rebel, of O-T Lounge fame
quote:
I personally think that a majority of the physical therapy business is just a big racket
I thought this board was void of complete ignorance.
quote:
poodlebrain
faith has been restored.
Posted on 10/15/08 at 5:26 pm to supatigah
quote:
poodlebrain = the smartest guy on td.com, and it isnt even close
No, but I did spend the night at a Holiday Inn Express once.
Posted on 10/15/08 at 5:44 pm to Poodlebrain
as I recall from a tax law class, I think the club membership deduction has been closed... that shite was a couple yrs ago though
Posted on 10/17/08 at 6:11 am to Chicken
You will need a medical certificate from your doc if IRS audits you.
Posted on 10/18/08 at 2:49 pm to 756
-to deduct gym membership as a medical expense on schedule A you will need a letter from the doctor requiring you to workout
-poodle is correct in the employer can deduct it but employee must pay tax on the benefit so no real gain there
-schedule c it would definitely not be deductible
Country Club rules have changed recently, they tend to disallow most of them if it is the neighborhood you live in. If the fees are reasonable you could deduct it as entertainment (only 50%) deductible, but you would have to prove a business purpose upon audit.
In general, for country club, if you can reasonably justify your expenses the worst that could happen is you get examined and they throw it out and you pay more tax with some small penalties and interest.
-poodle is correct in the employer can deduct it but employee must pay tax on the benefit so no real gain there
-schedule c it would definitely not be deductible
Country Club rules have changed recently, they tend to disallow most of them if it is the neighborhood you live in. If the fees are reasonable you could deduct it as entertainment (only 50%) deductible, but you would have to prove a business purpose upon audit.
In general, for country club, if you can reasonably justify your expenses the worst that could happen is you get examined and they throw it out and you pay more tax with some small penalties and interest.
Posted on 10/19/08 at 3:38 pm to Doc Fenton
quote:
I personally think that a majority of the physical therapy business is just a big racket...
I think you may be confusing Physical therapy with Occupational therapy.
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