Question for all you REGers…..

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    Topic
  • November 10, 2011 at 4:18 pm #162673
    jomarie
    Participant

    A client called our office this morning with a question:

    Are vet bills deductible???

    Started sitting in May 2002, on and off. But since 2008 I've been nonstop and my scores are....
    AUD - 39, 48, 56, 65, 68, 73, 76!!! (Finally passed in Oct 2011!!!) Becker, NINJA, & Wiley
    REG - 75 (Lost Credit) 72, 68, 73, 75 (Passed again in Aug 2011) Becker, NINJA, & Wiley
    FAR - 65, 68, 75 (Lost Credit) 68, 73, 73, 80 (Passed again in May 2012) Roger, NINJA, & Wiley
    BEC - 65, 68, 71, 72, 72, 71, 76 (Lost Credit)- 70, 76!!!! I AM DONE!!! - Roger, NINJA, & Wiley
    After 10 long years of studying, I AM DONE!!!! Finally a Licensed CPA in the State of New York!!

Viewing 13 replies - 1 through 13 (of 13 total)
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  • November 10, 2011 at 4:21 pm #306646
    yankeeaccountant
    Participant

    I am going to say no. Just a guess, never came across it. The only thing relating to pets that I came across was the expenses in moving a pet–and those weren't allowable as deductions to AGI.

    November 10, 2011 at 4:29 pm #306647
    Anonymous
    Inactive

    I believe this could be related to dependents. Dependent medical bills are deductible. Since pets are not dependents then I do not believe their bills are deductible.

    November 10, 2011 at 4:30 pm #306648
    Yvonne570
    Member

    Anything to do with animals and vet bills are not associated with taxes – non deductible. You can't claim an animal or any expenses toward an animal care.

    AUD - Passed:)
    FAR - Passed:)
    REG - Retake TBD
    BEC - Missed by 3 points Retake TBD

    November 10, 2011 at 4:31 pm #306649
    Anonymous
    Inactive

    Although the IRS does allow vet bill deductions for personal guide dogs or assistance dogs. Also, I believe vet bills are deductible for Farm expenses on Schedule F if they are related to farm animals.

    November 10, 2011 at 4:33 pm #306650
    Yvonne570
    Member

    That's to simply pertain to disability and businesses. Personal animals are a no way jose. LOL.

    AUD - Passed:)
    FAR - Passed:)
    REG - Retake TBD
    BEC - Missed by 3 points Retake TBD

    November 10, 2011 at 4:34 pm #306651
    Anonymous
    Inactive

    sorry for a third post. But, it all depends on the use of the animal. If its a personal pet then no vet bills are deductible. If its a guide dog then yes they are. If the bills are related to your farm profits then yes they are. If they are related to a personal business on Schedule C such as breeding or showing they are deductible. Hope this helps!

    November 10, 2011 at 4:35 pm #306652
    Yvonne570
    Member

    That's good to know. So I guess we need to know exactly what the client was asking – since client only asked if “vet bills” were covered. Client needs to elaborate. LOL:)

    AUD - Passed:)
    FAR - Passed:)
    REG - Retake TBD
    BEC - Missed by 3 points Retake TBD

    November 10, 2011 at 4:37 pm #306653
    Anonymous
    Inactive

    haha yes. All tax matters usually require more specific descriptions from clients. There aren't many direct yes/no answers.

    November 10, 2011 at 4:46 pm #306654
    jomarie
    Participant

    Glad I've got everyone thinking, but I believe he was just asking for his pet dog. It's a client we've had for a long time and he doesn't own a farm or anything.

    Started sitting in May 2002, on and off. But since 2008 I've been nonstop and my scores are....
    AUD - 39, 48, 56, 65, 68, 73, 76!!! (Finally passed in Oct 2011!!!) Becker, NINJA, & Wiley
    REG - 75 (Lost Credit) 72, 68, 73, 75 (Passed again in Aug 2011) Becker, NINJA, & Wiley
    FAR - 65, 68, 75 (Lost Credit) 68, 73, 73, 80 (Passed again in May 2012) Roger, NINJA, & Wiley
    BEC - 65, 68, 71, 72, 72, 71, 76 (Lost Credit)- 70, 76!!!! I AM DONE!!! - Roger, NINJA, & Wiley
    After 10 long years of studying, I AM DONE!!!! Finally a Licensed CPA in the State of New York!!

    November 10, 2011 at 4:54 pm #306655
    Shanti
    Participant

    I actually just finished working on an audit client in our office that shows dogs on a national level. The dogs and the vet bills are deductible since it is their business. A previous preparer even put the dogs on the depreciation schedule. Makes me wonder when dogs became livestock and how the useful life of a breeding show dog was determined. But it was never called into question, so I guess dogs can be put in that category.

    November 10, 2011 at 5:06 pm #306656
    Yvonne570
    Member

    LOL, I had a feeling he was asking about his pet dog. This is way more common than the other scenarios presented but is good to know – if in case it's tested Saturday. LOL.

    About livestock. Unless you are breeding dogs to eventually use them to make other resources, then they cannot be considered livestock. Animals that are livestock are considered inventory to farmers and are depreciated. Chinchillas and other fur producing animals – sadly are included in this concept. Dairy cows, yes, as they produce dairy for milk. Other livestock to be slaughtered and sold to produce meat or other foods.

    AUD - Passed:)
    FAR - Passed:)
    REG - Retake TBD
    BEC - Missed by 3 points Retake TBD

    November 10, 2011 at 5:08 pm #306657
    Anonymous
    Inactive

    this all better be covered on the exam. We'd ace it. The AICPA would be so impressed with our vast pet expense knowledge.

    November 10, 2011 at 5:25 pm #306658
    Yvonne570
    Member

    Lol, they should and totally x the contract legal mumbo jumbo. I can't follow Peter O's lectures.

    AUD - Passed:)
    FAR - Passed:)
    REG - Retake TBD
    BEC - Missed by 3 points Retake TBD

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