Taking a Tax Deduction for Self Defense Expenses

[Shot Trackers]

I've never done it before but hopefully soon we'll all be able to partially deduct the cost of ammo, firearms and or training on our taxes.

Last June, Congresswoman Carol Miller (R-WV), who represents Southern West Virginia, Republican Conference Chair Elise Stefanik (R-NY) and Congressman Richard Hudson (R-NC) introduced the Firearm Proficiency and Training Act.

The bill would create a tax deduction for people who take certified firearm training and concealed carry courses or who buy gun safety and storage equipment.

When passed, the bill would allow taxpayers to deduct the amount paid for the following gun security measures during the tax year, up to $250: more this here

While i realize $250 is a VERY small fraction of what we all spend on self defense but my hope is that it can be expanded in the future. What do they say? Something is better than nothing.

What do you all think? Not worth the time or step in the right direction?https://www.shottrackers.com/blog/take-a-tax-deduction-for-self-defense-yes-please

 

[AlexanderA]

Special-interest provisions like this are how we get complexity in the tax law, that everyone likes to bitch about.

Don't worry, though, because this has no chance of passage.

 

[dweis]

A person in a 32% tax bracket would save $80 on the $250 expense. I’d take it. Of course it is not going to happen.

 

[alfsauve]

Assuming you itemize deductions.

 

[AlexanderA]

A person in a 32% tax bracket would save $80 on the $250 expense. I’d take it.

An incremental rate of 32% would apply to taxable income in excess of $165,000 (for a single person, for 2021). $80, for such a person, would hardly be worth mentioning. People making less would see even less of a benefit. In addition, there would be a cost in simply documenting the expenses, and in claiming the deduction. Personally, I wouldn't bother to take the deduction even if it became law.

 

[Frank Ettin]

Speculative and off-topic for the Legal Forum.