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Americantaxservice.org Explains What Makes Medical Expenses Deductible

 

Traverse City, MI -- (SBWIRE) -- 11/25/2015 -- In "How to Know If Your Medical Expenses are Tax Deductible", Frank Ellis explains the medical expense tax deduction. It is available to those who spend over 10% of their adjusted gross income on medical costs. First, the author lists what can be deducted, including expenses from the taxpayer's, their spouses, or dependents' medical expenses.

There are no reimbursements, the article says. All deductions are from expenses that are paid out of pocket. For medical expenses paid with credit and not yet paid, one cannot deduct these until the year they are done so.

Next, Ellis details the medical expenses that qualify for a tax deduction. Any doctor visit, exam, test, or prescription is eligible as is any expense related to diagnosing, preventing, or treating an illness. Cosmetic surgeries and procedures cannot be deducted. The author also mentions that other qualifying expenses, however, include psychological/psychiatric expenses and drug and alcohol rehabilitation.

Taxpayers can deduct a number of other medical expenses. These can be anything from special school costs for the disabled to contact lenses, wheelchairs to nursing homes, lead paint removal, or a smoking cessation program, if it has been approved.

Insurance premiums can be tax deductible, if they're paid out of pocket. Medicare A coverage payments and premiums for Medicare B can be too. While long-term care insurance may qualify under certain conditions, premiums that are automatically taken out of one's paycheck, pre-tax, are not.

The author ends the article with advice on using H&R Block for 2016 tax filing. When filing taxes, it does all the work so the taxpayer does not have to worry about rules and guidelines. Clients find out all the deductions they qualify for by answering a few questions. The company's online filing service is highlighted as well.

For more information on medical expense tax deductions in 2016, go to http://americantaxservice.org/how-to-know-if-your-medical-expenses-are-tax-deductible/

About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.

Contact:
Frank Ellis
American Tax Service
945 East 8th Street Suite A
Traverse City, Michigan 49686
Website: http://americantaxservice.org/