Did you know you might be able to deduct your dog’s food, training, vet bills—and even travel—as a business expense?

In this episode of Life-Changing Money, Barbara dives into one of the most surprising (and asked-about) tax strategies: how to legally write off your pet in your business. Whether you’re a business owner, therapist, real estate investor, or content creator—if your animal plays a role in your work, there might be a way to deduct those expenses.

Barbara breaks down six legit ways to deduct pet expenses and what documentation is required to keep it all IRS-compliant. From guard dogs and content mascots to therapy animals and service dogs—this is a must-listen for anyone who wants to keep more of their money while caring for their furry friend.

Tune in to hear:

• How Barbara is deducting her own puppy as a service animal (and how you can too)
• The difference between emotional support animals vs. service animals (and which one qualifies for medical write-offs)
• How business owners can legally deduct:
  • Guard dogs
  • Pest control animals (like barn cats)
  • Pet mascots/content creators
  • Therapy animals in clinical settings
  • Foster pets via 501(c)(3) organizations
  • Why you need a Letter of Medical Necessity (and who can write one)
  • What the IRS requires in terms of tracking, receipts, and documentation
  • How to use a Medical Expense Reimbursement Plan (MERP) to turn personal medical costs—including pet care—into business deductions
  • A breakdown of itemized deductions vs. MERPs (and which saves you more)
  • How to avoid crossing the line between personal pet and deductible expense

Want to learn more? Register for the Free Masterclass on Building Family Wealth: https://taxedacademy.com/family 
 

How To Get Involved:

Life-Changing Money is a podcast all about money. We share stories of how money has impacted and radically changed the lives of others—and how it can do the same for you.

Your host, Barbara Schreihans (pronounced ShREE-hands) is the founder and CEO of Your Tax Coach, and the creator of the Write Off Your Life Course. She is a top tax strategist, business coach, and expert in helping business owners and high-net-worth individuals save millions in taxes while increasing profits.

When she’s not leading her team, coaching clients, or dreaming up new goals for her company, you can find her drinking coffee, hanging out with her family, and traveling the world.

Grab a cup of coffee and become inspired as we hear from those who have overcome and are overcoming their self-limiting beliefs and money mindsets!

Do you have a burning question that you’d love to hear answered on a future show?

Please email it to: [email protected]

Sign Up For Our Newsletter

Life Changing Money Podcast

Get Tax Help!