• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Feast on tax deductions for special foods

by on
in Small Business Tax,Small Business Tax Deduction Strategies

Q. My husband is on a special diet because of a medical condition. Can we deduct his food as a medical expense? S.V., Sherman Oaks, Calif.

A. It depends. Generally, medical expenses are deductible if you incur the cost for the prevention or alleviation of a physical or mental defect or illness. But medical expenses that are beneficial to your general health can't be deducted.

Thus, special foods and beverages may qualify for a deduction only if the items have been prescribed by a physician for the alleviation or treatment of a specific illness.

Tip: Similarly, you may deduct costs associated with a weight loss program, but only for treatment of a specific disease diagnosed by a physician. 

 

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/10703/feast-on-tax-deductions-for-special-foods "

Leave a Comment