Could Your Pet be a Tax Deduction?

posted: by: New Holland vet Tags: "Clinic Specials" "News" 

If you fostered a pet in 2012 you might be eligible to deduct the related costs from your federal taxes. The U.S. Tax Court recently ruled that they will recognize expenses incurred by fostering dogs and... cats for approved charities. The charity must be recognized as a 501(c)(3) charity by the government and all expenses must be documented and recorded. In addition to foster pets, the care of service animals and working animals may also be deductible. As always, talk to your accountant or a certified tax expert about whether you quality for these deductions.