I can’t tell you how many times over the years I have been asked if veterinary costs are deductible for your pets. Well, a bill has now been introduced in California that would give a tax credit of 50% of costs for vet bills for your pet cat or dog. AB 942 was introduced last month. Roads and bridges all over the state are crumbling from the recent storm damage, the state is facing severe funding shortages for pensions but at least pet owners may have something to smile about if this bill passes.
This morning I was listening to a home improvement show on the radio and they spent several minutes explaining various tax credits available for doing certain home improvement projects related to energy efficiency. Just one problem. All of those credits expired on December 31, 2016. There is still a credit available for installing solar systems, but the remainder of the energy related credits for hvac, insulation, windows etc. no longer exist. Moral of the story: don’t get your tax advice from a salesman, instead rely on a competent tax professional such as an Enrolled Agent for your tax questions.