Meals– The cost of business meals may be deductible if you’re not reimbursed for them. This includes meals while traveling overnight for your job. However, the deduction is generally limited to 50% of meal costs, which is based on either the standard meal allowance or the amount you ac...
Long-term care. Eyeglasses and vision care. Only unreimbursed expenses are tax-deductible, so any bill covered by insurance, an employer or a health savings account won't qualify. Plus, expenses must be medically necessary. "They can't be voluntary, cosmetic-type surgeries," says Marianela C...
If you have large expenses like mortgage interest and medical costs or made charitable deductions this year, you may be able to itemize instead of claiming the standard deduction. Itemized deductions allow you to account for each expense, potentially res
Amounts paid for qualified long-term care services are deductible medical expenses.Lasch, Eric S
Not all insurance plans offer dependent coverage. If your parents’ health care plan doesn’t give them the option to include dependents, they won’t be able to add you. Students moving out of state for college may need to find different health insurance coverage.If you’re ...
The insurance industry operates by collecting premiums from policyholders and using these funds to cover potential claims. However, to ensure the long-term stability and solvency of insurance companies, it is essential to establish reserves. Insurance reserves play a crucial role in the financial ...
Horizon CareOnline is a convenient, cost-effective service that brings a doctor right to you. If appropriate, the doctor can send a prescription to your pharmacy — so you can feel better faster. You can use Horizon CareOnline for a number of different conditions. ...
In summary, life insurance offers a predetermined death benefit with a focus on financial protection, while annuities provide the potential for growth and income based on investment performance. Evaluating your risk tolerance, investment objectives, and long-term financial goals will help guide your dec...
redesigned drug benefit will operate more like other private insurance policies. Coverage begins after patients pay a deductible, which will be no more than $590 next year. Some plans offer a smaller or no deductible, or exclude certain drugs, usually inexpensive generics, from the deductible. ...
Most self-employed people can deduct premiums paid for health insurance, dental insurance and long-term care insurance that covers them, their spouse and/or their dependents. Deductions aren’t available if either a self-employed person or their spouse was eligible to enroll in an employer-sponsor...