The IRS Deductions Blog

Posts Tagged ‘expenses’

Question: Anyone write off medical expenses on their taxes?

What medical expenses do you usually try to write off on your taxes? What system do you use to keep track of your medical expenses during the year? Is there any software that will keep track of your deductions (medical and otherwise) during the year that you think is worth the cost? Have you ever been audited by the IRS after deducting medical expenses?
Did you create the Excel Spreadsheet on your own? What information do you capture on your spreadsheet?
I’ve got about $7500 in med exp that I’m trying to deduct but I want to make sure that I have all the information needed just in case I’m audited in the future. Right now, I have receipts and statements for bills and I have kept track of the mileage for all trips to the doctors/hospital/ER. Do I need to have cancelled checks for each transaction, in your estimation, or would my bank statements suffice?

Answer: The instructions to Form 1040 at irs.gov list the available Deductible Expenses. Only expenses you paid with after-tax funds (not pretax deductions from an employer) are deductible.

It is possible to be audited on these expenses. Medical expenses are easy to trace. All major pharmacies provide an annual statment. Most if not all medical providers provide an annual statement. Keep all these printouts. It is not necessary to enter them into a tracking program.

Items on Amazon Right Now for Irs Deductions For Medical Expenses:

Dealing with Dependents

Kiplinger editorial director Kevin McCormally and fellow tax experts Peter Blank and Mary Beth Franklin tackle your most pressing tax challenges.

Custer Roberson Commercial with Mark Jackson of the Denver Broncos

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Items on Amazon Right Now for Tax Deductible Dental:

Ministerial Alliance attends festival

The Farmington Ministerial Alliance was one of more than 100 non-profit organizations to recently attend the “Festival of Sharing” in Sedalia. The festival is an annual state-wide, inter-faith ingathering event sponsored by faith communities throughout the state.

Volunteer Abroad Zambia Health Care Program Medical Nurses EMT’s Dental Missions

Question: Tax penalty and interest deductible?

If I payed a penalty and interest and filing cost for payment plan. Is all those cost itimized deduction? Do they have to meet 2%?
This was for federal income tax. Wouldn’t the additional cost penalty, interest, etc be allowed to deducted?

Answer: Interest on federal, state or local taxes is considered personal interest and is not deductible. Neither are penalties.

Items on Amazon Right Now for Penalty Tax Deductible:

Looking back at the top stories of 2009

As we say goodbye to 2009, this is the time of year we traditionally pause to take a look back at the stories from the last 12 months that affected us most and/or had an affect of influence on us.

Tax Forms & Deductions : How to Calculate Tax Penalties

Question: Is mileage, or gas expense to/from school a deductible education expense on federal income tax?

My daughter drives to/from junior college and obviously with price of gas this adds up

Answer: i tryed but they wouldnt let me, i drive 50 miles toschool and 50 miles back home monday thru thursday but they said i couldnt us it

Items on Amazon Right Now for Education Deductible Expenses:

Battling the system: A patient’s tale

A cancer patient has saved thousands of dollars by tracking his bills, pleading his case and working the phones, demonstrating how to be a smart medical consumer.

Kukulcan Health Care Programs Part 2 of 2

Question: Is Dr. Bernstein Health & Diet Clinic services in Canada a Tax Deductible Medical expense?

for my Revenue Canada 2008 Income tax form as a medical expense?
These are solely Vitamin B12 and B6 injections.
I know Jenny Craig, L.A. Weight Loss, Weight Watchers etc., are Not Tax Deductible BUT Dr. Bernstein is a real doctor and have real nurses that administer clinical injections that some Insurance companies will actually cover. So I don’t think that Dr. Bernstein is in their category. Also, canada revenue medical guideslines state that you can claim services from nutriuentist. Show what do you think?
I know Jenny Craig, L.A. Weight Loss, Weight Watchers etc., are not tax deductible BUT Dr. Bernstein is a real doctor and have real nurses that administer clinical injections that some Insurance companies will actually cover. So I don’t think that Dr. Bernstein is in their category. Also, Canada Revenue medical guidelines state that you can claim services from nutritionist. So are there any more comments?

Answer: If the treatment is prescribed by a licensed doctor, they should qualify.

Medical expenses are deductible only as they exceed 3% of your income.

Items on Amazon Right Now for Tax Deductible Medical Expenses 2008:

Standard or itemized tax deduction?

Tax Deductions reduce your taxable income, so choose the one that gives you the smallest tax bill.

Paulette Garin at 2009 Democratic State Convention