Comments on: Ask the taxgirl: Contacts, Glasses and Other Medical Expenses http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/ Paying taxes is painful... but reading about them shouldn't be. Sun, 12 Feb 2012 17:55:29 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: 7 Super Last Minute Tax Moves to Make | taxgirl http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-26184 7 Super Last Minute Tax Moves to Make | taxgirl Wed, 11 Jan 2012 22:48:15 +0000 http://www.taxgirl.com/?p=2794#comment-26184 [...] Pay some bills. If you know that you’re going to meet the threshold for medical expenses (7.5% of your adjusted gross income or AGI), consider making some payments now. Buy those contact lenses or glasses now or prepay those [...] [...] Pay some bills. If you know that you’re going to meet the threshold for medical expenses (7.5% of your adjusted gross income or AGI), consider making some payments now. Buy those contact lenses or glasses now or prepay those [...]

]]> By: 7 Super Last Minute Tax Moves to Make - Forbes http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-26100 7 Super Last Minute Tax Moves to Make - Forbes Sat, 31 Dec 2011 02:27:35 +0000 http://www.taxgirl.com/?p=2794#comment-26100 [...] Pay some bills. If you know that you’re going to meet the threshold for medical expenses (7.5% of your adjusted gross income or AGI), consider making some payments now. Buy those contact lenses or glasses now or prepay those [...] [...] Pay some bills. If you know that you’re going to meet the threshold for medical expenses (7.5% of your adjusted gross income or AGI), consider making some payments now. Buy those contact lenses or glasses now or prepay those [...]

]]> By: 11 Potentially Life Changing Year End Tax Strategies - Forbes http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-26069 11 Potentially Life Changing Year End Tax Strategies - Forbes Wed, 28 Dec 2011 18:19:59 +0000 http://www.taxgirl.com/?p=2794#comment-26069 [...] When you’re adding up those medical expenses, you probably already know to include your run of the mill expenses like prescriptions, doctor’s visits and health insurance premiums. But don’t forget that other expenses – like that [...] [...] When you’re adding up those medical expenses, you probably already know to include your run of the mill expenses like prescriptions, doctor’s visits and health insurance premiums. But don’t forget that other expenses – like that [...]

]]> By: Katie S http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-25535 Katie S Sun, 12 Jun 2011 17:12:36 +0000 http://www.taxgirl.com/?p=2794#comment-25535 My father is in Hospice Care and my mother is his caregiver. They have a very limited income so I will be paying for the home health aide at $19.50 hour for five hours every week. I do not live closeby therefore I am unable to assist my mother with his care. He is nursing home eligible and has Medicare but refuses to go to a nursing home. Can I deduct the cost of his home health aide that is not covered under medicare? My father is in Hospice Care and my mother is his caregiver. They have a very limited income so I will be paying for the home health aide at $19.50 hour for five hours every week.

I do not live closeby therefore I am unable to assist my mother with his care. He is nursing home eligible and has Medicare but refuses to go to a nursing home.

Can I deduct the cost of his home health aide that is not covered under medicare?

]]> By: Taxes from A to Z: M is for Married Filing Separate | taxgirl http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-24709 Taxes from A to Z: M is for Married Filing Separate | taxgirl Wed, 16 Mar 2011 02:20:25 +0000 http://www.taxgirl.com/?p=2794#comment-24709 [...] Occasionally one spouse has significant medical or other expenses but little income. Since medical expenses must meet that 7.5% floor before you can deduct them, joint filers may have a hard time meeting that threshold. However, a [...] [...] Occasionally one spouse has significant medical or other expenses but little income. Since medical expenses must meet that 7.5% floor before you can deduct them, joint filers may have a hard time meeting that threshold. However, a [...]

]]> By: Ask the taxgirl: Are IRAs Taxable? | taxgirl http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-15447 Ask the taxgirl: Are IRAs Taxable? | taxgirl Fri, 26 Mar 2010 11:38:28 +0000 http://www.taxgirl.com/?p=2794#comment-15447 [...] additional tax if your IRA withdrawals are equal to or less than your deductible medical expenses (those medical expenses that are more than 7.5% of your AGI). You don’t have to actually itemize on your return to meet this [...] [...] additional tax if your IRA withdrawals are equal to or less than your deductible medical expenses (those medical expenses that are more than 7.5% of your AGI). You don’t have to actually itemize on your return to meet this [...]

]]> By: Ali http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-9323 Ali Fri, 06 Mar 2009 15:42:55 +0000 http://www.taxgirl.com/?p=2794#comment-9323 It always "depends," doesn't it? :) Thanks for the info -- sounds like I can deduct both, I just need to start saving all my medical receipts now! It always “depends,” doesn’t it? :) Thanks for the info — sounds like I can deduct both, I just need to start saving all my medical receipts now!

]]> By: Vinny http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-9322 Vinny Fri, 06 Mar 2009 15:23:00 +0000 http://www.taxgirl.com/?p=2794#comment-9322 Ali, It depends. If your monthly health insurance premiums are taken out of your paycheck pre-tax, then you generally can't deduct those expenses. However, if you don't have employer-sponsored health care or your employer doesn't offer pre-tax payment of premiums, then you may claim those costs as a deduction on your tax return. If you are self-employed you don't even need to itemize to claim a deduction for your health insurance premiums. The same goes for medical expenses. If you have medical expenses that are reimbursed through a pre-tax arrangement (flexible spending account, medical savings account, etc.) then those expenses are not deductible on your tax return. Otherwise they may be claimed as itemized deductions. So, you may be able to claim both your medical insurance premiums and your medical expenses as itemized deductions depending on your situation. Also just a reminder that many things are qualified medical expenses besides doctor visits and prescriptions: dental work (except teeth whitening), crutches, seeing-eye dogs, hearing aids, orthodontics, chiropractic, etc. See IRS Publication 502 for an exhaustive list. Ali,

It depends. If your monthly health insurance premiums are taken out of your paycheck pre-tax, then you generally can’t deduct those expenses. However, if you don’t have employer-sponsored health care or your employer doesn’t offer pre-tax payment of premiums, then you may claim those costs as a deduction on your tax return. If you are self-employed you don’t even need to itemize to claim a deduction for your health insurance premiums.

The same goes for medical expenses. If you have medical expenses that are reimbursed through a pre-tax arrangement (flexible spending account, medical savings account, etc.) then those expenses are not deductible on your tax return. Otherwise they may be claimed as itemized deductions.

So, you may be able to claim both your medical insurance premiums and your medical expenses as itemized deductions depending on your situation.

Also just a reminder that many things are qualified medical expenses besides doctor visits and prescriptions: dental work (except teeth whitening), crutches, seeing-eye dogs, hearing aids, orthodontics, chiropractic, etc. See IRS Publication 502 for an exhaustive list.

]]> By: Kelly http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-9315 Kelly Fri, 06 Mar 2009 03:49:46 +0000 http://www.taxgirl.com/?p=2794#comment-9315 Yes, you can deduct all of your non-reimbursed expenses if you itemize. Yes, you can deduct all of your non-reimbursed expenses if you itemize.

]]> By: Mary Kay Foss http://www.taxgirl.com/ask-the-taxgirl-contacts-glasses-and-other-medical-expenses/comment-page-1/#comment-9314 Mary Kay Foss Fri, 06 Mar 2009 02:56:25 +0000 http://www.taxgirl.com/?p=2794#comment-9314 Another medical expense some people forget is the miles driven for doctor visits. Kelly listed the rate for those medical miles in a recent post. The 7.5% of adjusted gross income is a high limit so healthy people don't get the deductions. If someone has relatively high medical expenses at one point in the year, it's a good idea to schedule those things you've been putting off - dental work, new glasses or contacts, etc Another medical expense some people forget is the miles driven for doctor visits. Kelly listed the rate for those medical miles in a recent post.

The 7.5% of adjusted gross income is a high limit so healthy people don’t get the deductions. If someone has relatively high medical expenses at one point in the year, it’s a good idea to schedule those things you’ve been putting off – dental work, new glasses or contacts, etc

]]>