- Jun 12, 2009
- 5 comments
As a CPA currently working as a full-time mom to my twin girls, I have really enjoyed being able to put my accounting skills to use for the Real Diaper Association for a cause I am so passionate about. As the new Treasurer, I was very excited that right from my first meeting I was able to help out by researching a couple of tax related cloth diapering topics.
The first of these issues was whether or not parents had any support for deducting the cost of cloth diapers. It turns out that the issue is pretty clear cut and some very specific rules exist. If cloth diapers have been prescribed for the "treatment of a disease", then parents can pay for them with funds from their flexible spending accounts or take their cost as medical expense deduction. I got this information from IRS's Publication 502, "Medical and Dental Expenses". Anyone who would like more information can find this publication at irs.gov or should discuss this with the tax adviser or plan administrator. We'll be adding this information to our Real Diaper Facts at realdiapers.org to help make parents aware of this potential tax savings if they're in this situation.
I hope this will be the first of many opportunities I'll have to share (what I hope is) helpful tips with other cloth diapering parents.