If you’ve already filed your 2014 tax return, you might want to make an addendum before April 15th, as the Internal Revenue Service (IRS) has made several last-minute exemption to the US Tax Code, one of which allows motorcyclists to claim up to $500 on a new helmet purchase as tax deductible.
The move comes about after a report by the Centers for Disease Control and Prevention released a study that suggested billions of dollars could be saved if all motorcyclists wore helmets.
Citing the efforts of groups like the American Motorcyclist Association (AMA) whose anti-helmet political agenda has resonated the most with the same anti-tax libertarians who routinely fail to pay federal income taxes, the IRS has finally decided to fight fire with fire, and believes it has effectively found a way to bring a non-compliant tax group in line with the law.
The US Center of Disease Control and Prevention (CDC) has issued an interesting report regarding the economic impact of motorcycle helmet laws, based on data from 2008-2010.
While the takeaway shouldn’t surprise anyone, as it doesn’t take a genius to understand that more riders helmeted means fewer fatal crashes from motorcycles, the figures coming from the CDC with that observation are a bit shocking.
According to the statistical analysis done by the CDC, riders wearing helmets during a motorcycle crash were 37% less likely to receive fatal injuries than riders that were not wearing a helmet.
Additionally, states with universal helmet usage laws are estimated to have save 4x as much in economic costs associated with medical, productivity, insurance, legal, and other expenses. For 2010, the total economic impact of having helmeted riders topped $3 billion in savings. Chewy.