I think all pet owners have, at one time or another, been tempted to claim Fido as a dependent on their taxes. Afterall those lovable animals do cost a lot of money in food, vet bills and toys, but until now I don't think Washington was listening.
The following information was reported this morning in The Denver Post - Parade Magazine. In the current economy, people are abandoning their pets in record numbers. This trend prompted Rep. Thaddeus McCotter (R, Mich) to introduce a bill that would allow pet owners to deduct some pet-related costs from their taxes (up to $3,500.00 per year).
The article went on to say that 60% of Americans own pets and this credit would help keep them in loving homes.
Is this yet another way for Washington to tax the people or a legitimate savings? It will certainly be interesting to see how this one plays out.
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