• You Could Soon Get a Tax Break for Going to the Gym-But Should You?

    4 monthes ago - By Fortune

    On Thursday, the powerful House Ways and Means Committee advanced legislation that would let Americans write off fitness expenses as a tax deduction. The bill, dubbed the Personal Health Investment Today, or PHIT Act , is enthusiastically backed by health care companies and nonprofits like Fitbit, the American Heart Association, Nike , the Sports and Fitness Association, and others; it passed through the committee on a bipartisan 28-7 vote .
    If signed into law, the PHIT Act would amount to a tax break for gym memberships, fitness classes, and the purchase of certain “safety equipment”...
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