5 Absurd (UnHealthy) Tax Deductions

Get your W-2s, 1099s and 1040s ready. April 15th is right around the corner!

Unfortuntely Health Club Memberships are not tax-deductible (in most cases); however, Congress has found plenty of ways to reward those that engage in unhealthy activitives.

Here are the Top 5 Absurd (UnHealthy) Tax Deductions

Why Some Employers are Paying Employees to Lose Weight

The obesity epidemic adds billions of dollars in costs to the nation's health care system, and weighs down employee productivity. In an effort to save money in the long-run, lower the costs spent on healthcare for obese employees, and improve employee productivity, more and more companies are finding room in their budgets to give cash rewards to employees who can lose weight.

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Increase Your Salary with Your Workouts!

Forget about what you can't control, stagnant wages and shaky investment markets, and focus on what you can control: your work out! After all, you might just find that the treadmill offers better financial returns than Wall Street. 

Workers who exercise regularly earn 9% higher pay on average than those who don’t, according to a study published in the June issue of the Journal of Labor Research.

Past studies have linked exercise with higher earnings, but the direction of cause and effect wasn’t clear. If gym-goers are more disciplined than their slothful coworkers, they might earn higher pay simply because they’re better workers, not because they exercise.

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Unbuyable: CrossFit Inc. Avoids Anthos Capital's Bid to Buy Half of Company

What could possible get in the way of the successful momentum of CrossFit, the fastest-growing exercise program in the world today? Drama ensues as the ex-wife of CrossFit's founder fights to sell her 50% stake in the company.

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Several Insurance Companies Reimburse Gym Memberships

Some in the insurance industry understand that prevention is less expensive than curing the medical issues which stem from poor health.  Case in point, United Health Care is reimbursing members and their spouses up to $240 per year for their gym membership costs.And they aren’t the only ones; Cigna, Tufts, and Neighborhood Health Plan also offer reimbursement plans.


Check with your carrier to see what they offer, or check out the websites below for more information.

http://www.uhctogether.com/uhcwellness/16181.html
http://www.tuftshealthplan.com/
http://www.cigna.com/
http://www.nhp.org/SiteCollectionDocuments/PDF_Members/FitnessReimbursementForm.pdf

Taking a Client to a Gym for Networking and Working Out

The New York Times reports on a new business trend:  entertaining clients with a spin class rather than happy hour.  This healthier option shows of your level-headed decision making skills as well as your dedication to staying on top of your game.

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