Deductions and Write-Offs
The most frequently asked tax questions related to Deductions and Write-Offs
Psychiatric, Psychoanalysis or Psychologist payments
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You can deduct as a medical itemized deduction subject to the 10% / 7.5% limitation the costs you paid for Psychiatric, Psychoanalysis or Psychologist for medical care.
You cannot include payments for Psychoanalysis that is part of required training to be a Psychoanalyst.
You cannot include payments for Psychoanalysis that is part of required training to be a Psychoanalyst.
Acupuncture
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You can include in the calculation of Medical itemized deductions as medical expenses subject to the 10% / 7.5% limitation the amount you paid for acupuncture.
Chiropractor
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You can deduct as a medical itemized deduction subject to the 7.5% limitation the cost you paid a chiropractor for medical care.
Fertility Enhancement
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You can deduct as a medical itemized deduction subject to the 7.5% limitation the cost of procedures such as in vitro fertilization including temporary storage of eggs or sperm.
Also, surgery including an operation to reverse prior surgery that prevented the person operated on from having children.
Also, surgery including an operation to reverse prior surgery that prevented the person operated on from having children.
Payroll deductions for Health Insurance
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
Payroll deductions automatically withdwawn from your paycheck for medical insurance is a deductible medical itemized deduction.
This amount can be added to your other medical expenses such as for your doctor, dentist, prescribed drugs, eyeglasses and mileage to travel to those locations.
This gross medical expense calculation is subject to the 7.5% limitation.
This amount can be added to your other medical expenses such as for your doctor, dentist, prescribed drugs, eyeglasses and mileage to travel to those locations.
This gross medical expense calculation is subject to the 7.5% limitation.
Life Insurance Premiums
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You cannot deduct the costs of Life Insurance Premiums.
Maternity Clothes
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You cannot deduct the costs of Maternity clothes.
Stop Smoking Program
Asked Tuesday, February 21, 2012 by an anonymous userCPA Answer:
You can deduct as a medical itemized deduction subject to the 7.5% limitation the cost you paid for a Program to stop smoking.
You cannot deduct the amounts you paid fro drugs that do not require a prescription such as nicotine gum or patches that are designed to help stop smoking.
You cannot deduct the amounts you paid fro drugs that do not require a prescription such as nicotine gum or patches that are designed to help stop smoking.
Dry cleaning costs of Suits and Dresses
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
The dry cleaning and maintenance costs of your work clothes such as suits and dresses are not deductible. To be deductible the clothing must be not be adaptable to everyday wear and be required as a condition of employment. The dry cleaning and maintenance costs of uniforms and special clothing such as for nurse’s, police, and fireman are deductible.