The Personal Health Investment Today Act of 2025 or the PHIT Act of 2025 aims to amend the Internal Revenue Code to treat certain expenses related to physical activity, fitness, and exercise as medical care. This allows individuals and families to receive...
Simple Explanation
The PHIT Act of 2025 wants to help people save money on taxes if they spend on sports and exercises, like going to the gym or buying workout equipment, by letting them deduct these costs from their taxes, up to $1,000 or $2,000 for families. But it doesn't cover activities like golf, which some think might not be fair.