TITLE

Rescue deductions for medical dependents

PUB. DATE
September 2009
SOURCE
Tax Strategist;Sep2009, Vol. 4 Issue 9, p4
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses qualifications on the medical expense tax deduction in the U.S. It notes that in normal condition, those who have an annual adjusted gross income threshold of 7.5% are disqualified for the medical expense tax deduction. However, when a taxpayer makes payments for a dependent's medical expense to the health care provider, the amount paid may be qualified for the medical expense deduction.
ACCESSION #
43933805

 

Related Articles

  • What health expenses are deductible? Putman, Eileen // Buffalo Law Journal;2/1/2007, Vol. 79 Issue 10, p15 

    The article presents types of health expenses that qualify as tax-deductible medical expenses. Before medical expenses can be deducted, it must exceed 7.5 percent of adjusted gross income. As permitted by either the Internal Revenue Service or the U.S. Tax Court, costs for elastic hosiery,...

  • THE SAVVY INVESTOR.  // Best Life;Dec/Jan2007, Vol. 3 Issue 10, p50 

    The article presents the 3 easy ways to cut one's medical expenses. One may open a flexible-spending account. If one's employer offers this, he can fund it with a percentage of his salary and use it for medical expenses that his health insurance plan does not cover, such as eyeglasses or co-pays...

  • Use variation on multiple support agreements.  // Tax Strategist;Dec2009, Vol. 4 Issue 12, p4 

    The article discusses the use of multiple support agreement to pay a parent's medical expenses in the U.S. It is stated that the tax exemption may be collected by the client if the family collective provides more than half of the support. It notes that unreimbursed medical expenses can only be...

  • Medical Expense Reimbursement Plans...a fringe benefit often overlooked. Busby, Dan // Clergy Journal;Apr2002, Vol. 78 Issue 6, p21 

    Presents information on medical expense reimbursement plans. Details of the barriers to deducting medical expenses; Benefits of a medical reimbursement plan; Relationship of the plan to the compensation package.

  • Hospital Spending Drives Increase in Health Care Costs.  // PT: Magazine of Physical Therapy;Dec2001, Vol. 9 Issue 12, p15 

    Focuses on the increase of health care costs in the United States. Complications of hospital spending on medical care costs; Statistics of the increased cost; Impacts on the premium expenses among health employers.

  • Break through medical deduction barrier.  // Small Business Tax Strategies;Mar2014, Vol. 9 Issue 3, p6 

    The article offers information on U.S. Internal Revenue Service (IRS) rules that take effect on 2013 medical expense deduction on tax returns. It notes that medical costs are generally deductible only to the extent the annual total exceeds 10% of an individual's adjusted gross income (AGI)....

  • Imagining Seamless Healthcare Transactions. Harris, David; Lutz, Sandy // Journal of Healthcare Management;Jul/Aug2008, Vol. 53 Issue 4, p217 

    The author reflects on the advantage of a seamless healthcare transaction in the U.S. He opines that a seamless healthcare system will take automation, coordination and standards. He offers a method on how to move into a more consumer-friendly transaction procedure. He cites three technology...

  • Consortium to Address Retiree Health Benefits. Bradley, Gwendolyn // Academe;Sep/Oct2005, Vol. 91 Issue 5, p4 

    This article focuses on the efforts being done by Emeriti Consortium for Retirement Health Solutions to address retiree health benefits in the U.S. in 2005. This consortium was founded by academics Linda Evers Cool and Kenneth Cool. They say that the idea for the plan grew out of their Mellon...

  • CHAPTER 11: If You Get Sick: Medical Deductions. Fishman, Stephen // Real Estate Agent's Tax Deduction Guide;12/1/2012, p221 

    The article focuses on how real estate agents in the U.S. can get tax deductions for health insurance and other medical expenses. It is said that real estate agents can get tax deductions for a wide variety of medical expenses that are generally not covered by health insurance, including...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics