Health Care

If you are a more than a 2% stockholder, the health insurance premiums paid by your S corporation employer for you and your family is treated as additional wages to you.
The amount will be reported on your Form W-2. You are entitled to deduct the health insurance premium income amount as an adjustment to income on your tax return.
The adjustment will be reported on IRS Form 1040, page 1, Line 29.

The cost of purchasing an air conditioner is deductible (as part of your medical itemized deductions subject to the 7.5% AGI limitation)only if your doctor signifies that it is necessary for your relief from allergies or other respiratory ailments.

Eye exams, eyeglasses and contact lens, including equipment and materials for using contacts ,such as saline solutions and enzyme cleaners, can be listed as a medical itemized deduction on IRS Schedule A limited by the 10% / 7.5% AGI limitation..

Inpatient treatment and expenses for meals and lodging at a treatment center for alcohol or drug addiction are a medical itemized deduction.
Also transportation to Alcoholics Anonymous meetings are deductible.
They are reportable on IRS Schedule A limited to the 10% / 7.5% AGI limitation.

Generally cosmetic surgery is not deductible. However, Cosmetic surgery that is necessary to improve a deformity from a accident or disease is deductible.

The cost of any medical aids, such as hearing aids and batteries, are deductible as a medical itemized deduction.

Insurance premiums and unreimbursed expenses paid for long-term care are deductible as a medical itemized deduction. There are limitations on the annual insurance premiums paid.
For 2013
If Age 40 or under the maximum allowed deduction is $360
If Age 41-50 the maximum allowed deduction is $680
If Age 51-60 the maximum allowed deduction is $1360
If Age 61-70 the maximum allowed deduction is $3640
If Age 71 or older the maximum allowed deduction is $4550

You are allowed to deduct medical expenses paid on behalf of your parents even if they aren't your dependents.

First of all, life insurance is generally not deductible as a business expense. However, life insurance can provide a tax-free accumulation of cash value. Most importantly, the proceeds paid upon the death of the one who is named on the life insurance policy, is tax-free to the beneficiaries, if the policy is not held within a pension plan. Life insurance is often used to provide liquidity for the payment of estate taxes or the buyout of a business interest upon the death of one partner. Meet with a CPA to discuss your situation in detail. There are many types of life insurance policies. A CPA can determine which type of policy is suitable for your needs.