Feel the Burn
A new bill could help small companies pump up tax deductions.
Smaller companies will be able to get fiscally fit as their employees become physically fit if the Workforce Health Improvement Program Act becomes law. The bill (S.772/H.R. 1634) would allow small businesses to deduct the expense of reimbursing employees for health-club fees. Large companies frequently provide fitness centers on-site, the costs of which are already deductible.
The bill has support from both Republicans and Democrats in the House and Senate, making it easier for the legislation to hurdle obstacles on its way to passage. The legislation was originally introduced in the 108th Congress in July 2003, but it did not move forward--not an unusual situation for a first-time bill.
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