Pet Owners Don’t Hold Your Breath – Bill to Allow for Pet IRS Deductions Likely to Go to the Dogs

A billdrafted by Thaddeus McCotter, (R-MI) would allow for deductions for expenses related to pets. Proposed in July H. R. 3501, would allow up to $3500 in deductions for pet owners each year. The deductions would be based on veterinary care for qualified pets. In this bill, qualified pets include “legally owned, domesticated, animals”. Robert Davi, (Actor) and owner of four pets, contacted McCotter in the hopes of getting legislation passed that would encourage pet ownership. The decision to adopt a pet, especially in these uncertain economic times, is financial. According to the A.S.P.C.A., the costs of care for cats and dogs average $770 per year, per animals. The Humane Society weighed in noting that 69% of American households include pets. That and the fact that the majority of those pets are considered by their owners to be part of the family, and by most states and municipalities to be taxable, make this one interesting feel-good bill.

Why the bill is going nowhere? Apparently, both Houses are too busy spending money hand over fist on more important stimulus projects that have yet to stimulate the economy, whereas, this tiny little amendment would do just that. The excuse that adding more to the tax code at this point does not hold water, it is acknowledged that the current tax code is difficult and should be overhauled, but the chances of that happening are nil. Therefore, to give a viable deduction to 69% of households in the nation would appear, on the fact of things, to be a smart move, both politically and economically. Politically, because Congress is wasting so much and the nation, as a whole, is not thrilled, and economically, because that tax break would encourage more spending – on cats and dogs, which is one of the few industries making any money at this point.

Therefore, a note of thanks is due Thaddeus McCotter, Republican representative of the House from all pet owners nationwide. A tax break (cut) of any kind at this point would be welcomed.

Disclosure: Owner of 3 dogs.