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...
China will include expenses of caring for elderly people in the categories of tax-deductible items while setting the minimum threshold for individual income tax at 5,000 yuan ($732) per month, according to the National People's Congress Standing Committee, the nation's top leg...
Are moving expenses tax deductible? Due to tax reform, most people can't deduct moving expenses, but military personnel still qualify if they meet specific requirements.
Medical payments and some insurance premiums: Payments to doctors, dentists, surgeons, chiropractors, psychiatrists, psychologists and other medical practitioners are generally deductible. Insurance premiums for medical care or long-term care insurance are also deductible if they’re not paid by your emp...
Is a computer tax deductible for small business? Yes, you can deduct the expenses of a computer from your small business if it’s used for professional purposes. Keep in mind that a computer would need to be listed as an “office expense” and not “office supplies” in order to properly...
Long-Term Care Expenses Assuming your mother's long-term care costs meet Internal Revenue Service (IRS) requirements, that makes the nursing home expenses deductible as medical expenses. Generally, valid long-term care expenses include in-home, assisted living and nursing home expenses. ...
Tax Deductible Travel Expenses Your travel expenses were likely up substantially in 2024. I would encourage you to take this deduction when eligible. Just make sure to document the business purpose of your travel. I think the IRS may question your two weeks at the Four Seasons on a glorious ...
lodging expenses while away from home to receive medical care in a hospital or medical facility long-term care insurance and long-term care expenses mattresses and boards bought specifically to alleviate an arthritic condition medical conference admission costs and travel expenses for a person with a...
Long-term care insurance is a deductible medical expense. The IRS lets you deduct an increasing portion of your premium as you age, but only if your employer or spouse's employer does not subsidize the insurance. Travel for Medical Care Transportation costs for medical appointments, such as ...
Medical expenses that can qualify for tax deductions—as long as they’re not reimbursed—include copays, deductibles and coinsurance. An assortment of medical products, such as prescription eyeglasses, hearing aids, vaccines, over-the-counter medication and menstrual care products, might also be el...