Cover Image: Jamie Walter
The Personal Health Investment Today Act (PHIT) is working to make physical activities more affordable for Americans. The act proposes up to a $1,000 Tax Deduction ($2,00 for joint households) for 'qualified sports and fitness expenses'. These include fitness facility memberships, physical exercise programs, and exercise equipment. However, these facilities cannot be a private club owned and operated by its members, nor one which offers golf, hunting, sailing, or riding facilities.
Obviously, this puts ski resort passes into a large gray area, however, another article states, "in the case of any item of sports equipment (other than exercise equipment), with respect to so much of the amount paid for such item as does not exceed $250." This suggests that $250 may be deducted from your taxes to cover a portion of your skis or bindings.
The act was originally introduced to the House of Representatives in March 2015, but new cosponsors are continually being added.