Gym Memberships May Soon Be a Tax Deduction

Congressional lawmakers are considering a measure to make the cost of fitness an itemized deduction.

Posted: Jul 23, 2018 4:26 AM
Updated: Jul 23, 2018 7:20 AM

Chico, Calif. -- Your gym membership could soon be a tax deduction?

A 2015 study shows that 55 million people were members of one of the 36,000 health clubs in the United States.

In fact, North America has more fitness centers than anywhere in the world, and last year, Americans spent $19 billion dollars on their gym memberships.

This is sort of the reverse idea of "sin taxes" - added taxes on products like sugar, nicotine, alcohol (things that are considered "bad" for us by the government).

Well, congressional lawmakers recently advanced a bill that would give favorable tax treatment to things like exercise classes and workouts at the gym.

If passed, gym memberships and certain other exercise costs could qualify as medical expenses for tax purposes.

However, to qualify for this you'll have to itemize your deductions.

The tax break would be limited to $500 if it's just you, and and$1,000 for heads of households and couples who file joint tax returns.

There's no guarantee on this one; it still has to pass the House and Senate to become law.

NEWS APP:

DOWNLOAD OUR NEWS APP FOR LATEST UPDATES: iOS | Android

WEATHER APP:

DOWLOAD OUR WEATHER APP FOR LATEST UPDATES: iOS | Android

Article Comments

Chico
Broken Clouds
61° wxIcon
Hi: 63° Lo: 48°
Feels Like: 61°
Oroville
Broken Clouds
62° wxIcon
Hi: 62° Lo: 49°
Feels Like: 62°
Paradise
Broken Clouds
61° wxIcon
Hi: 54° Lo: 44°
Feels Like: 61°
Chester
Broken Clouds
46° wxIcon
Hi: 46° Lo: 36°
Feels Like: 39°
Red Bluff
Overcast
59° wxIcon
Hi: 61° Lo: 49°
Feels Like: 59°
Willows
Broken Clouds
61° wxIcon
Hi: 64° Lo: 45°
Feels Like: 61°
Light and scattered rain and snow showers return for your weekend, but another warming trend looks likely for next week
KHSL Severe
KHSL Radar
KHSL Temperatures

Community Events