Your Golf Purchases Could Become Tax Deductible

In an article posted by Golf Digest, there is a new act going in front of congress to make golf purchases tax deductible.

“This year’s event, taking place Wednesday in the nation’s capital, is no different as the lobbying efforts home in on reinforcing the game’s economic impact ($70 billion annually), as well as explain to government officials the industry’s positions on labor and environmental issues, and, perhaps most importantly, the PHIT (Personal Health Investment Today) Act.

PHIT expands the IRS definition of a medical expense to allow for medical-care tax treatment of qualified fitness and sports expenses.

Why is that important to golfers?

Because if the PHIT Act passes as currently constituted it would, along with several other physical-fitness expenses, make golf camps and clinics, lessons and training aids, green fees and driving-range fees, tournament fees and, wait for it . . . golf balls and golf clubs tax deductible up to $1,000 for an individual or $2,000 for a head of household or family.”

That is pretty cool. Congress is considering this because the continuing rise of people not participating in any activities is rising and they are becoming unhealthy because of it. With that the cost of healthcare rises.

So with this bill, it will give a benefit to people who are active and will give an incentive for someone to pick up golf. I bet a whole bunch of people would pick up golf if they learned that their golf purchases could become tax deductible.

There is still some work to be done on the bill, but there are Congressmen and Senators who support the bill right now.

Written by BP Staff

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