Deductions For Medical Expenses Can Be Complicated, Let Us Clear Things Up.
You may be able to receive deductions for medical expenses for yourself, your wife and your dependent too if you choose to itemize.
Medical expense deductions include payments that you make for diagnosis, treatments, cure or prevention of disease and expenses for transportation related to needed medical care. The cost of drugs released only with prescription (except the insulin) is tax deductible.
You may report on your tax return in order to decrease your taxable income, fees for doctors, surgeons, dentists, chiropractors, podiatrists, psychiatrists, and Christian Science practitioners.
Fees for hospital services, therapy, nursing services, ambulance hire, dental and X-ray services are also deductible.
Payments for special equipment ( such as motorized wheelchairs, special telephones for the deaf and hand control in the car) and for special items ( including false teeth, eyeglasses, hearing aids, crutches) are tax deductible.
You may deduct the cost of special school programs for children that correct a medical condition.
The cost of meals and lodging for your medical treatment period may be included in your deductions for medical expenses.
Medical Expenses Tax Deduction Calculation
Find out if your deductions for medical expenses are tax deductible. In order to do the calculation use Schedule A on Form 1040. You are allowed to deduct only the amount that exceeds 7.5% of your adjusted gross income.
We can calculate your medical expenses deductions! Call us now at 713-774-4467!
