Can you write off the costs for your dog? The answer is “It depends.”
First of all, make sure you’ve got a business that the IRS will recognize as a business (that’s true for any business deduction) and that you’ve got good record keeping and accounting. Tax laws have changed a lot this year (2018), so make sure you up-to-date on everything you need to do from here on out. Go to www.Taxmageddon2018.com to order your copy of my new book full of strategies you can put in place right away. If you already have your copy, make sure you registered to unlock the free bonuses.
So, let’s talk about writing off the cost of your dog, food, car and training. Here are 5 ways to do that:
⦁ Use your dog in advertising. If your dog is legitimately part of your business or is a mascot for another business for which you’re paid something, you’ve got a write off!
⦁ Train your dog as a therapy or service dog. All of the costs will then be deductible. In this case, though, it’ll either be as a medical expense (if the service is for you) or charitable donation (if your dog volunteers along with you.)
⦁ Your dog is a security animal. Be real here though. Your Chihuahua might sound tough, but he really isn’t protecting your property. However, a trained large dog could definitely be security.
⦁ You breed your dog and have a legitimate breeding business. You need to make money at it though. And this is something the IRS watches for. Too many people try to take pet hobbies and turn them into business deductions.
⦁ If you foster or rescue animals, the costs will be a charitable tax deduction if you have a recognized charity.
Five ways to write off your dog’s expenses! Your exact circumstances, though, will determine exactly what you can do, and the details of how to do it.
P.S. That’s my dog Brinca, on the left hand side of the picture. I guess that means I have to pay her a modeling fee now.