Fred and I are not Americans. Even if we were, I don't think we'd be totally up-to-date on all things taxes. But the other day I learned about itemizing your medical expenses (Thanks Jade!). And if there's one thing most people reading this blog have in common, it's medical expenses.
First, it's important to know that you can claim only the part of your medical and dental expenses that are more than 7.5% of your adjusted gross income.
I think most of us meet that without any problem.
Unfortunately, my filing system amounts to piles of paper anywhere and everywhere throughout the house, so I'm going to be spending quite a bit of time tracking down the receipts. But I'm on a mission!
Today I went on-line to see what does and doesn't qualify, and found the government's guide to claiming medical and dental expenses. Click here for some thoroughly scintillating bedtime reading.
Here are a few that I thought might be of interest:
- Ambulance - I've read in some dx stories where the child had to be transported via an ambulance because of the severity of the situation.
- Medical Supplies - It says that band-aids are included, so why not alcohol pads? Uni-solve? Elma cream? And all the other annoying extras that this disease demands.
- Diagnostic Tools - A BG meter qualifies. So maybe the dexcom does too.
- Hospital Services - Pretty self-explanatory
- Lab Fees - Ditto
- Prescriptions - Oh my, don't we have a lot of these?
- Car Expenses - I know there are a few Moms and Dads that drive pretty far to see their endo. You can include mileage, parking fees and tolls. Read the section on transportation for more information.
So this was probably the most boring post ever on Death of a Pancreas, but I thought it was important enough to share. I figure there might be someone else out the who was unaware that they can claim their vasectomy, lead-based paint removal, or pregnancy test kit.
My favourite line of the whole guide? And I quote: "Medical care expenses must be primarily to alleviate or prevent a physical or mental defect or illness. They do not include expenses that are merely beneficial such as vitamins or a vacation."
Damn, guess I won't be writing off that trip to Portugal after all.
LOL...I am so glad my hubbub does our taxes. This is great information, I will pass it on to him.
ReplyDeleteThis is good to know! My taxes aren't that complicated yet, but I'll have to look into this...thanks for the info!
ReplyDeleteband-aids... really?
ReplyDeleteI guess I should have kept those receipts!!
Very interesting! Thanks for the info!
ReplyDeleteAlthough I dont have D, I love reading your blog. You provide tons of laughs to someone that, like you guys, (I assume) pay way too much for RXs and have very little left over!! Thank you for posting re the tax exemptions, I will definitely ask my CPA about this. Thanks again and good luck selling your house.
ReplyDelete