Pets as Dependants: A Proposed Deduction

Over the last few weeks, there has quietly been some news brewing in the media about a proposal to claim pets a dependents on tax returns. On July 31st, U.S. Representative Thaddeus McCotter has introduced act H.R. 3501, also known as the Humanity and Pets Partnered Through the Years (HAPPY) Act. If passed, this bill would allow pet owners to deduct up to $3500 from their taxable income for pet care expenses. For more information about this bill, click HERE. We will keep you updated!