Right, so now we know what qualifies as medical expenses you can claim back, let’s have a look at how you go about working out your additional medical expenses tax credit.The formula you need to use depends on two factors:Your age - whether you're older or younger than 65, and If ...
Can I Use Crowdfunding to Start My Business? Personal Finance Taxes on Raffle Prizes Investments and Loans If you're getting a business or other moneymaking venture off the ground and someone gives money in exchange for equity -- that is, a share of ownership -- or a cut of the potential...
Find the cheapest & best income protection insurance policy or redundancy insurance for you. Find out how much cover you can have and how much it will cost
Medicare is not free, but it’s a good value for the money. The median gross annual premium is $2,115. Medicare Part B premiums are paid in monthly installments, while a monthly, lump-sum payment produces Part A premiums. You need to pay Social Security taxes in advance, and you will...
Knowing what to claim as taxable and nontaxable income can reduce your tax liability. Here's what you should know.
There’s a lot of misinformation out there about filing taxes, and blindly following someone else’s bad tax advice could get you into hot water. Here are 10 of the most common tax myths—and what you can do to protect yourself from believing in them.
Tax season can bring a mix of dread and glee. Doing your taxes is a pain, and you might be worried that you’re going to owe Uncle Sam some money. But getting a refund check is like Christmas in April. And getting that check brings up the question of what to do with a tax refund...
and necessary medical supplies. It also includes coverage for skilled nursing facility care, hospice care, and some home health services. Most people do not have to pay a premium for Medicare Part A if they or their spouse have paid Medicare taxes while working. However, there may be deductib...
Medical expenses: You can deduct medical expenses that exceed 7.5% of your AGI.5 Miscellaneous deductions: You can no longer deduct miscellaneous itemized deductions unless you claim a deduction that's related to certain unreimbursed employee expenses.8 ...
Charges for medical services above limits set by Medicare are not covered by Medigap plans and must be paid by the patient. The Other Parts of Medicare Part A MedicarePart Acovers inpatient care at hospitals, skilled nursing facilities and hospices, along with home health services. However, Pa...