Expenses incurred in pursuing health can be tax deductible. All one needs is a doctor's prescription. Of course, it has to be legitimate. If a dentist recommends clarinet lessons for the treatment of dental problems then it can qualify for deduction. But an expense incurred on health clubs, dance classes, counseling, tattooing and diaper services are not really medical expenses and hence are not deductible.
a. Medical expenses must be more than 7.5 per cent of the adjusted gross income.
b. Tax experts say that if a medical expense is recommended to help reduce a condition then it can be tax-deductible.
c. A doctor's prescription helps.
e. Besides allopathic treatments, alternative therapies also qualify for deductions.
f. Any treatment prescribed to rectify any medical problems can be tax deductible, however most cosmetic surgery is not considered for tax deductibles.
g. Examples of tax deductible medical expenses are fees paid for any medical or hospital services, transportation costs for seeking these services, de-addiction treatments, acupuncture, dentures, prescription eyeglasses, contact lenses, LASIK eye surgery.
h. To see a full list of medical and dental deductibles - Click here
Deductible medical and dental expensesPosted February 26, 2007 03:43 PM
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