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I.R.S. Tax Credit for Hypnosis?

You May Be Able To Get 100% Reimbursement for your Weight Loss and/or Smoking Cessation Hypnotherapy Programs with an I.R.S. Tax Credit!

Tax laws passed for 2003 onwards mean you can get a tax credit that reimburses you 100% for money paid for smoking programs.

You can also be reimbursed 100% for weight loss programs if you were advised by a physician to lose weight.

This is a tax credit - not a tax deduction, so that means 100% credit on your taxes!

The information below is presented as a courtesy from Academy of NLP & Hypnosis and is quoted from pages 12 and 15 of IRS Publication 502 year 2003.

Stop-Smoking Programs

You can include in medical expenses amounts you pay for a program to stop smoking. However, you cannot include in medical expenses amounts you pay for drugs that do not require a prescription, such as nicotine gum or patches that are designed to help stop smoking.

Weight-Loss Programs

You can include in medical expenses amounts you pay to lose weight if it is a treatment for a specific disease diagnosed by a physician (such as obesity, hypertension, diabetes or heart disease). This includes fees you pay for membership in a weight reduction group and attendance at periodic meetings. You cannot include membership dues in a gym, health club, or spa as medical expenses, but you can include separate fees charged there for weight loss activities.

How to Report

Because income tax regulations and forms change over time, you should consult with your own tax professional to determine exactly what forms and procedures are appropriate for your personal situation.

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