PPE Is Now Tax Deductible
Every year Tax season comes around and every year most of us are left scratching our heads. Knowing which deductions, you can claim, how much of your income is truly taxable, and keeping track of all the different paperwork can be quite the headache. Needless to say, we understand that this is a time when you’re looking to make sure your taxes are done right, in a way that saves you the most money possible.
We have some good news for you! The IRS announced on March 26 that several health items that Americans have been buying in bulk are now deductible as medical expenses on your taxes!
These Items Include:
- Hand Sanitizer (like the kind that you’ve been buying from H2One!)
- Sanitizing wipes
- And others
Essentially, if you bought any Personal Protective Equipment (PPE) items with the intent of using it to stop the spread of the Covid-19, that purchase can be used as a deductible medical expense on your taxes. Additionally, these purchases are available to be paid out with various Health Savings Accounts (HRA’s), but that’s a little outside our jurisdiction.
We suggest that you, as a health-conscious consumer, should bring this new little nugget of money saving information to your tax professional to ensure that you’re saving the maximum amount on your taxes this year. And while you’re at it, pick up a bottle of H2One sanitizer to ensure you’re safe and clean while interacting with other people face-to-face. After all, it’s tax deductible!