Tag Archives: medical expenses
If you itemize your deductions for a taxable year on Form 1040, Schedule A, you might be able to deduct expenses you paid that year for medical and dental take care of yourself, your partner and your dependents. For a long time beginning after December 31, 2012, you could deduct only the total amount of […]
— Read moreWhichever method your spouse choses for taking deductions, you’ll have to follow suit, even if you file separately. If one of you opts to itemize your deductions, the other will not qualify for a standard deduction and ill also have to itemize. It possible that you can claim a separate return with itemized deductions that […]
— Read moreMedical expenses are defined as any costs related to diagnosing, curing, mitigating, treating, or preventing disease. These services can affect any functionality of the body. Expenses also include monies paid to doctors, dentists, surgeons, and other medical staff who provided legal medical care, as well as the cost of any supplies, equipment, or devices necessary […]
— Read moreThere are a wide variety of tax credits available for those who are disabled. These credits and deductions can lower the amount of taxes that you owe, and can even lead to a refund. According to the IRS, you are considered disabled under two conditions: You have a psychical or mental disability that limits your […]
— Read moreOften, you’ll have to choose between itemizing your deductions and taking a standard deduction when you are filing your taxes. You should determine what your deductions amount to using both methods, then choose which option decreases the amount of tax that you owe. Typically, the method that leads to the largest deduction will provide the […]
— Read moreThis year, when you file your taxes, you may find that the government is willing to help offset some of the costs of financially caring for your parents. There a multiple ways that you can get tax assistance for parental support when you file your 2014 return. A new dependency tax care credit, along with […]
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