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Tax Break?????
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Topic: Tax Break????? (Read 5113 times)
leaky
Full Member
Posts: 213
Don't ask about the nickname...
Tax Break?????
«
on:
August 19, 2005, 03:12:19 pm »
With so many out there getting tubs for therapy and health reasons, it stands to reason that the cost of a hot tub could be viewed as a medical expense. If you get a signed reccomendation or request from an MD or chiropractor, can you write off the cost on your taxes when you itemize expenses? Just wondering as I inch closer to taking the plunge......
Greg
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Hot Tub Forum
Tax Break?????
«
on:
August 19, 2005, 03:12:19 pm »
Duffman
Full Member
Posts: 139
Re: Tax Break?????
«
Reply #1 on:
August 19, 2005, 03:31:50 pm »
I would also really like to know what tax options I might have.
Since I totaled my back years ago while snowboarding I have invested quite a bit to control my back pain. I need a new spa big time, but in the last two years I purchased a sauna, shiatsu massage table, and a special office chair.
«
Last Edit: August 19, 2005, 03:32:04 pm by Duffman
»
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orlandoguy
Full Member
Posts: 333
all you need is tub
Re: Tax Break?????
«
Reply #2 on:
August 19, 2005, 03:38:26 pm »
You must have the words, "medically necessary" in the prescription I was told. I did and it saved me on the sales tax.
I have also been told that it can be deducted from your end of year earnings, which I will claim and let you know.
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leesweet
Full Member
Posts: 246
'05 SD Maxxus
Re: Tax Break?????
«
Reply #3 on:
August 19, 2005, 03:53:41 pm »
Found this article quickly...
http://www.bankrate.com/brm/itax/tax_adviser/20041013a1.asp
I thought it was just the sales tax, but it looks like it can be lumped in with the other medical expenses. Of course, that is somewhat useless, since the ceiling is so high, but a spa could at least push you over for that year!
Might trigger an audit, though, so be careful...
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Lee
Backpains
Full Member
Posts: 676
proud owner of a Coleman 461
Re: Tax Break?????
«
Reply #4 on:
August 19, 2005, 03:59:15 pm »
What my doctor told me is this: You have to have a "letter of Medical Necessity" from your doctor that the Hot Tub is a medical necessity for your healing or your pain control.
I feel both your pain leaky and duffman..as most know or are aware on this board I too am plagued with back pain...a car wreck earlier in my life and 2 years as a Certified Nurse Aide totalled my back to the point where I've had 5 back surgeries (three of which were either fusions or revisions on a fusion). I am now at the point where I am looking at surgery again to either put in a pain pump or a nerve stimulator to help with my pain. I will Itemitize my deductions this year so that I can get the tax break for my poor old back.
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Dr. Spa™ Ret.
Ultimate Member
Posts: 3377
Retired (mostly) from the industry after 33 years
Re: Tax Break?????
«
Reply #5 on:
August 19, 2005, 06:09:47 pm »
This link has a LOT of info on this subject;
http://www.hurt911.org/therapeutic/hot-tub-insurance-tax-deduction.html
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If you can't sell it on eBay, it may not even qualify as landfill.
Retired (mostly) from the industry after 33 years...but still putzing around with a consumer information website, and trying to sell obsolete owners manuals
orlandoguy
Full Member
Posts: 333
all you need is tub
Re: Tax Break?????
«
Reply #6 on:
August 19, 2005, 06:38:49 pm »
Dr. Spa,
Thank you, that was worthy of printing out and saving for my accountant, in case she didn't know all that info.
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Dr. Spa™ Ret.
Ultimate Member
Posts: 3377
Retired (mostly) from the industry after 33 years
Re: Tax Break?????
«
Reply #7 on:
August 19, 2005, 07:44:50 pm »
There's some others.
Check Google for;
tax deductible hot tub
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If you can't sell it on eBay, it may not even qualify as landfill.
Retired (mostly) from the industry after 33 years...but still putzing around with a consumer information website, and trying to sell obsolete owners manuals
rushfan2112
Junior Member
Posts: 18
Re: Tax Break?????
«
Reply #8 on:
August 19, 2005, 08:22:31 pm »
Yes you can deduct!
Sales tax at time of purchase with prescrition from doctor and have already checked with IRS on deducting it with medical expenses.. Got ok also.. first had to get denial from insurance that they would cover it then you can show it medical necessary and able to do it
Rushfan2112
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hair
Junior Member
Posts: 49
artesian gives lust, jealousy gives regret
Re: Tax Break?????
«
Reply #9 on:
August 21, 2005, 08:22:52 am »
i bought mine just over the state line which means no sales tax. saved about $500.
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Brewman
Ultimate Member
Posts: 4092
Lead me not into temptation- I can find it myself!
Re: Tax Break?????
«
Reply #10 on:
August 22, 2005, 08:00:14 am »
The sales tax thing might vary by state. Please check out the rules for your particuar state first.
As far as federal goes, if you are allowed to take the itemized medical deduction, be sure to tally up all the other medical expenses you've had during the year.
Many people don't usually take this deduction, because the hurdle on that deduction often knocks people out of the running. But something as high buck as a spa might get you over the hurdle, and you'd get to claim all the other allowable medical expenses that you might not normally bother adding up.
Brewman
«
Last Edit: August 22, 2005, 08:00:44 am by Brewman
»
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Brewman
Hot Tub Forum
Re: Tax Break?????
«
Reply #10 on:
August 22, 2005, 08:00:14 am »
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