UNDERSTANDING TAX DEDUCTIONS:
Tax deductions are expenses that reduce taxable income. They include medical expenses, business costs, and charitable donations. Deductibility often depends on whether the expense is deemed medically necessary.
ELIGIBILITY AND GUIDELINES:
The IRS allows deductions for medical expenses that prevent or alleviate physical or mental defects or illnesses. Personal training sessions may be deductible if prescribed by a healthcare provider to treat a specific medical condition.
DOCUMENTATION AND CONSULTATION:
To claim deductions for personal training, maintain detailed records of sessions attended and payments made, along with any healthcare provider documentation. Consulting a tax professional is advisable to ensure compliance and maximize deductions.