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Babies: 6 - 9 Months
XP from BF: Tax Breaks for Breastfeeding
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Re: XP from BF: Tax Breaks for Breastfeeding
Honestly, I know nothing about taxes, I just see a lot of people make comments about how there should be tax breaks for bfing moms so I thought I'd share the article.
Why?
I guess to help cover the cost of a pump and other supplies. I didn't post this to stir up something about not having tax breaks for moms that use formula, just thought I'd share with all of the moms who mentioned it before.
Has anyone heard if it has already started? I thought it might be something you could take off on your taxes for next year meaning it wouldn't impact any of us...
DS - 5/2010
DD - 6-2013
TTC #3 - Cycle #9
Yup, us too. GMAFB.
From what I have read, it seems that you can get it for your 2010 taxes. I just don't know how it works. I read somewhere you have to spend more than 7% of your gross income, which say if you make $100,000 a year, that's $7,000 in BFing supplies. The article listed above says that on average you spend $500 - $1,000 a year on BFing supplies, which means you could only make $15,000 a year!? I just don't understand how it works.
The gov't is trying to encourgae more women to BF to keep healthcare costs down. It is not meant as a slap in the face to women who cannot. It it is just an incentive for a woman who may be on the fence. I would like to know how they plan to regulate this. Everyone could claim they BF or just BF in the hospital and then switch to forumula.
BF supplies will now qualify towards medical expenses if you itemize. So your medical expenses would need to be 7% not your BF alone. You can now also use flexible spending account money towards breastfeeding supplies, which you could not previously.
If this is our mentality, then why not get rid of all tax breaks that only apply to one particular group of people? No discounts for home ownership, or college tuition, or buying a more energy efficient appliance? The government offers tax breaks to encourage people to do things the research suggests is better for individuals or groups or our country overall. I think it's great and I am glad to see any efforts that encourage more women to breastfeed.
great point. Also, like PP said, i think its all your medical expenses have to total up to that % of income and you have to itemize.
What mentality? Nobody ever implied to get rid of tax breaks. It just sucks for those of us who did the research, attempted to do so, and it didn't work out, to lose out on a tax break when it wasn't our choice.
But if you did try it and spent money on BF supplies, you would still qualify...they don't come and make sure you are still nursing.
Well 7% of my gross income is $6510 and that's a crap ton of supplies. I just gave my pump, bags, etc to a preggo friend and called it a day
I believe its 7% total for medical bills, they are just allowing nursing supplies to be part of it now, not that you have to spend 7% on nursing supplies alone. My point was that it isn't leaving out those who tried and could not breastfeed nor is it anti formula. I've spent a ton of money on nursing supplies but my 7% is high like yours so even with our medical bills this year we don't qualify to use the deduction.