anniet
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- Jul 10, 2002
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I found this on the Weight Watchers site and thought some here might find it helpful. I did not know this.
Did you know that the Internal Revenue Service (IRS) allows some taxpayers to include weight-loss programs such as Weight Watchers as valid medical deductions on their tax returns?
This could be great news for your pocketbook! Plus, says Linda Webb Carilli, spokeswoman for Weight Watchers International, "It opens the gate for everybody to be at a healthier weight."
Talk to your tax specialist about how the tax law applies to your particular situation (details are in IRS publication 502). But in general, here's what you need to know:
* There are three ways to make the new tax law work for you:
1. If you itemize your deductions, and if you're itemizing medical and dental expenses that exceed 7.5 percent of your adjusted gross income but are not reimbursed, you can add the cost of a doctor-recommended weight-loss program to these itemized costs.
2. If your employer offers a "medical savings account," the account can now be used to cover a doctor-recommended weight-loss program.
3. If your employer offers a "flexible savings account," a doctor-recommended weight-loss program may now be covered under that as well. This is especially great news for Weight Watchers At Work Meetings Members.
* You can use the deduction only when the weight-loss program has been recommended by a physician to treat a disease, including (but not limited to) type-2 diabetes, heart disease, gall bladder disease and several types of cancer.
* The deduction can be applied to your return if your doctor recommends that you pursue a weight-loss program for obesity, because of a ruling by the IRS that allows obesity itself to be recognized as a disease. Obesity is defined as a Body Mass Index (BMI) of 30 or above click here to find out your BMI.
* You cannot use the deduction if your efforts to lose weight are pursued for general good health only if your doctor recommends that you follow a weight-loss plan as the result of a disease. To prove that your doctor did make such a recommendation (in case you get audited), always ask your doctor for a copy of the recommendation, and include it in your tax files for that year. You must be able to prove that your doctor recommended the program to treat a disease.
* The use of structured weight-loss programs like Weight Watchers including Meetings and Weight Watchers Online can be used as deductions according to this tax law, but diet products and foods cannot. (Also, Weight Watchers eTools subscription fees cannot be deducted on top of the Meetings fee because eTools would be viewed by the IRS as an additional diet product.)
* You can use the deduction on the costs of maintaining a weight loss, too as long as you have proof that your doctor recommended it as a treatment for a disease.
* You can use the deduction on your taxes for the year 2000 as well as 2001 and subsequently. Just talk to your tax advisor before submitting an amended tax return.
Did you know that the Internal Revenue Service (IRS) allows some taxpayers to include weight-loss programs such as Weight Watchers as valid medical deductions on their tax returns?
This could be great news for your pocketbook! Plus, says Linda Webb Carilli, spokeswoman for Weight Watchers International, "It opens the gate for everybody to be at a healthier weight."
Talk to your tax specialist about how the tax law applies to your particular situation (details are in IRS publication 502). But in general, here's what you need to know:
* There are three ways to make the new tax law work for you:
1. If you itemize your deductions, and if you're itemizing medical and dental expenses that exceed 7.5 percent of your adjusted gross income but are not reimbursed, you can add the cost of a doctor-recommended weight-loss program to these itemized costs.
2. If your employer offers a "medical savings account," the account can now be used to cover a doctor-recommended weight-loss program.
3. If your employer offers a "flexible savings account," a doctor-recommended weight-loss program may now be covered under that as well. This is especially great news for Weight Watchers At Work Meetings Members.
* You can use the deduction only when the weight-loss program has been recommended by a physician to treat a disease, including (but not limited to) type-2 diabetes, heart disease, gall bladder disease and several types of cancer.
* The deduction can be applied to your return if your doctor recommends that you pursue a weight-loss program for obesity, because of a ruling by the IRS that allows obesity itself to be recognized as a disease. Obesity is defined as a Body Mass Index (BMI) of 30 or above click here to find out your BMI.
* You cannot use the deduction if your efforts to lose weight are pursued for general good health only if your doctor recommends that you follow a weight-loss plan as the result of a disease. To prove that your doctor did make such a recommendation (in case you get audited), always ask your doctor for a copy of the recommendation, and include it in your tax files for that year. You must be able to prove that your doctor recommended the program to treat a disease.
* The use of structured weight-loss programs like Weight Watchers including Meetings and Weight Watchers Online can be used as deductions according to this tax law, but diet products and foods cannot. (Also, Weight Watchers eTools subscription fees cannot be deducted on top of the Meetings fee because eTools would be viewed by the IRS as an additional diet product.)
* You can use the deduction on the costs of maintaining a weight loss, too as long as you have proof that your doctor recommended it as a treatment for a disease.
* You can use the deduction on your taxes for the year 2000 as well as 2001 and subsequently. Just talk to your tax advisor before submitting an amended tax return.
