New York Officials Consider To Reward People Who Adopt Rescue Pets With Tax Credit

Feb 17, 2020 by apost team

Many people would love to adopt a pet. Unfortunately, properly caring for an animal is not cheap. The City of New York is considering a way to help people do just that: a tax credit, according to WKBW News.

The tax credit would apply only to people who adopt from animal shelters, rather than breeders. A person who adopted a pet would receive a tax credit of up to $125.00. Currently, only dogs and cats would earn somebody a tax credit.

According to WKBW News, the New York City government still has to iron out some details considering their bill. For example, would rescue organizations qualify for the tax credit? Could somebody apply for it if they had adopted an animal before it went into effect?

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Not surprisingly, the tax credit is quite popular. Assuming it passes, New York City would be the first city in the US to offer such tax credit. Other cities, however, have passed or are considering similar measures to make pet adoption less expensive and more feasible for people.

For example, a Minneapolis shelter had a “Clear the Shelter” initiative last fall. As they wanted to have all of their animals adopted out by Thanksgiving, they waived the adoption fees on dogs, cats, and birds for a single day in November. The initiative worked – and demonstrated that adoption fees, which range from $10 to $1000, can prevent people from adopting pets.

The IRS already allows people to claim deductions related to their dogs. Full-time dog breeders who are properly certified and registered, for example, are treated as business owners and can thus claim the deductions related to running their business. Similarly, somebody who uses guard dogs at their business can claim deductions related to the care and feeding of their dogs.

Service dogs are also eligible for tax deductions. They do have to be registered as such, and their owner needs to provide up-to-date medical records explaining why they need a service dog.

Many of the tax deductions involve dogs because they are arguably among the more expensive pets to own. In addition to good food, dog sitters, and vet care dogs need proper training – and a six-week-long class at an obedience school can cost up to $300, according to The Spruce Pets.

Is your city or state considering a way to help pet owners pay for their four-legged friends? If so let us know how in the comments and be sure to pass this article along to others.