The PHIT Act would allow taxpayers to place up to $1,000 for individuals (or $2,000 for a joint return or head of household) in pre-tax medical accounts (such as HSAs and FSAs) annually. These funds could be used to pay for physical activity expenses, including yoga-related expenses.
How does it benefit the yoga community?
The Bill will give more Americans a reason to improve their health through physical activity. Under the proposed Act, yoga classes, studio memberships, teacher training programs, some continuing education, and certain equipment (like mats, blocks, straps) would qualify as tax-deductible medical expenses.
Yoga Alliance, Full Article: The PHIT Act: Federal Legislation That Benefits Yogis and All Americans
PHITAmerica Website: PHITAmerica, A Movement for a Fit & Healthy America