Are Swimming Pools Tax Deductible?

By Cyril Uy and Rodel Delizo

For some of us, having a swimming pool may be one of the most exciting additions that a homeowner could have. It can be a place where friends and families gather and play when the weather is warm. But to some homeowners, having a swimming pool is not necessarily for recreational purposes. It can be a place of therapeutic respite. If a medical condition is the driver for use of a swimming pool, the question is then raised, “Are swimming pools tax deductible?”

According to the guidance set forth by IRS Publication 502, medical expenses may include capital expenses such as “special equipment installed in a home, or for improvements, if their main purpose is medical care for you, your spouse or dependent.”

National Expansion for Rapidly Growing International Society of Young Filipino Accountants (ISYFA)

by Carmelita O'Neil, Susan Legaspi and Benel Se-Liban

NEW YORK, December 9, 2009 – With the holidays ushering in the sense of hope that this country needs after the tumultuous events of last year’s recession, the International Society of Young Filipino Accountants (“ISYFA”) launched its East Coast tri-state chapter comprised of New York, New Jersey and Connecticut.

The new chapter called ISYFA-New York celebrated its launch at the Philippine Consulate office on 5th Avenue in mid-town Manhattan. The evening was organized and sponsored by Reynaldo Padilla of Padilla and Company, LLP and was hosted by Maricel Lo (Padilla & Co.) and Leo (Oni) Abadiano (Dadia, Valles, Vendiola LLP).

The event was a great success. Attendance was over 70 including young professionals from the Big Four, medium and small accounting firms based in New York, students from Fordham University, St John University, ISYFA corporate advisors and National Executive Board members. The event was also attended by successful Filipino-American entrepreneurs and professionals in accounting, finance and business.