Search Results: keywords:"physical activity expenses"

  • H. R. 2369 — To amend the Internal Revenue Code of 1986 to treat certain amounts paid for physical activity, fitness, and exercise as amounts paid for medical care.
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    Status:Introduced in House
    Words:985

    H. R. 2369, also known as the "Personal Health Investment Today Act of 2025" or the "PHIT Act of 2025," proposes a change to the tax code that would classify certain expenses related to physical activity and fitness as medical expenses. This includes costs such as gym...

    Simple Explanation

    The PHIT Act of 2025 is a plan to let people use some of the money they spend on exercise things like gym memberships and workout equipment as medical costs, making it cheaper for families to stay healthy and fit. However, there are concerns about whether the rules are fair and strict enough to prevent people from unfairly taking advantage of this benefit.

  • S. 1144 — To amend the Internal Revenue Code of 1986 to treat certain amounts paid for physical activity, fitness, and exercise as amounts paid for medical care.
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    Status:Introduced in Senate
    Words:980

    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.