We've launched the new forums! Read more here

Tax Deduction?

etakmit

etakmit

Well-known member
Joined
May 16, 2016
Messages
1,019
Reaction score
380
Location
Western NY
Handicap
16
Alot of work ahead to get the necessary votes and support, but I grasp the logic around it.
 
Probably wouldn't make me
spend any more money on equipment, but I'd definitely the advantage of the tax break if it's there.
 
This would be the easiest deduction to prove for me.
 
Yes please... I could use any additional deduction I can get.

It does make some sense as far as preventative care goes I suppose. I am sure all golf manufacturers are going to push to get this passed through as it could help bump some sales.
 
Not that I wouldn't take it if it becomes law but this is ridiculous!!
 
lightningbolt44 said:
Wish they would add some 0s to the end of those deductions

Sent from my XT1254 using Tapatalk
Click to expand...
The question for me will be if you have to itemize to take this deduction.
 
I think it's goofy. Green fees? maybe because they are paid as you get the "exercise". Same with gym memberships; it's not the membership fee that makes one fit; it's the actual going to the gym.

These deductions should be earned by some measure of participation, not the purchase of membership/equipment.
 
admitted skimmer, didn't read the bill, but unless they're modifying where this gets deducted on your tax return, don't get too excited. if it's a regular, vanilla medical expense, you first need to itemize, and then second the total of your out-of-pocket post-tax medical expenses must exceed 7.5% or 10% of your adjusted gross income in order to deduct the excess. so if you make $100,000 a year and you itemize, your deductible medical expenses must exceed $7,500 or $10,000 in order for you to take any tax deduction.

a better deduction is to donate your golf clubs to a charitable organization, and give yourself the benefit of the doubt on the value. saves the hassle of shipping and haggling over price, and still nets you a decent deduction assuming you itemize.
 
Jeanthemachine said:
I think it's goofy. Green fees? maybe because they are paid as you get the "exercise". Same with gym memberships; it's not the membership fee that makes one fit; it's the actual going to the gym.

These deductions should be earned by some measure of participation, not the purchase of membership/equipment.
Click to expand...

can't go to the gym without paying the fee. We're talking about our government here, did you expect it make any sort of sense? I see a $2,000 deduction... and I'll take it.
 
c.a.eleric said:
admitted skimmer, didn't read the bill, but unless they're modifying where this gets deducted on your tax return, don't get too excited. if it's a regular, vanilla medical expense, you first need to itemize, and then second the total of your out-of-pocket post-tax medical expenses must exceed 7.5% or 10% of your adjusted gross income in order to deduct the excess. so if you make $100,000 a year and you itemize, your deductible medical expenses must exceed $7,500 or $10,000 in order for you to take any tax deduction.

a better deduction is to donate your golf clubs to a charitable organization, and give yourself the benefit of the doubt on the value. saves the hassle of shipping and haggling over price, and still nets you a decent deduction assuming you itemize.
Click to expand...
Yeah that's why I was questioning where the deduction wold take place. Though with the cap of 1000 bucks for an individual, you'd think it would not be part of the regular medical deductions.
 
I'd gladly take an additional 2k deduction, but I think this is pretty stupid.
 
captaincaution said:
Yeah that's why I was questioning where the deduction wold take place. Though with the cap of 1000 bucks for an individual, you'd think it would not be part of the regular medical deductions.
Click to expand...

yep, the cap was an odd thing if it's lumped in with other medical. I could see a revamp of sch a that has a new box for PHIT expenses and adds to total medical prior to the AGI limitation.
 
would be nice
 
You must log in or register to reply here.
Back
Top