Sunday, March 11, 2012

Medical Weight Loss is Tax Deductible!

Did you know that this year if you enroll in a medical weight loss program you can have those expenses tax free.


Caveat: I am not an accountant or CPA. Every case is different and you should consult your accountant PRIOR to filing taxes! But


Yes, what I said is correct. You can get a tax deduction for a medical weight loss program. Don't believe me? Here is what the IRS has to say about it! 


What is covered?
1. Electronic body scans. If your insurance doesn't cover body composition testing and you paid, then it is tax deductible
2. BP Monitors. If your weight loss program has asked you to buy and monitor your BP. This too is tax deductible. As is a Heart Rate monitor!
3. Lab testing. If you had lab testing not covered by insurance, it too is tax deductible!
4. Off Site Medical Retreats. If your weight loss program has an offsite or resort where they take you, you can deduct food and lodging if you received medical care there!
5. If your archaic insurance company doesn't cover weight loss and you had to pay out of pocket for the program, you can claim a tax deduction!
6. For my patients who pay for VO2Max testing and RMR testing. That is also tax deductible!


What is not covered?


The IRS Publication 502 lays out specifically what is NOT covered. You should review that closely.


Again, this is only a rule of thumb. You need to double check with your accountant. But as I read it, medical weight loss is tax deductible!


Keep Burning Fat First!
-Dr. Murphy

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