I saw this article and may have to follow this bill, and am wondering if I'll be able to deduct my hunting habit or gear... https://gearjunkie.com/phit-act-sports-fitness-equipment-tax-deduction
Great idea. Too bad that it is such a limited offering, I mean ONLY $1000 a year. Why that will hardly get me through January!!!!!
Not everybody has an excuse like an employer required non-reimbursed expense, llc, s-corp, or whatever your case is...
I get that. Although my position is the same as dnoodles - lower tax rates altogether and quit with these absurd exemptions and credits. Our tax laws are infinitely more complex than they should be. And let's face it - writing off hunting gear as "exercise equipment" is a pretty far stretch.
"Infinitely more complex than theyshould be"......might be an understatement. Sent from my SM-G930V using Tapatalk
Tax laws are complex, no doubt and the thought of a simplified tax model, like a flat tax, has been discussed for years. That dream aside... I'd dare say my bow is more a piece of exercise gear than a lot of gear I've seen at folks houses... like treadmills, exercise bikes or weights collecting dust, clothes or other crap.