Can I Claim Medical Expenses on my Taxes?

December 7, 2018

The classic question is, “Can I deduct these expenses from my taxes?” Finding all the deductions that you can is the key to saving money on your taxes, but it is absolutely a complicated and confusing process. For example, how can you know whether your medical expenses are deductible on your taxes? The truth is that some medical expenses are deductible and some are not. The simplest solution may be to take advantage of Los Angeles tax preparation services. If you choose to find Los Angeles accounting services, you can be more confident that you deducted everything you can, including both medical and other expenses.

How To Know if a Medical Expenses Is Deductible

There are two qualifications a medical expense must meet for it to be deductible. It must be over a certain amount, and it must be a certain kind of medical expense. To start, it must be over 7.5 percent of your adjusted gross income for 2017 and 2018 taxes. In 2019, this amount will increase to 10 percent. Secondly, only preventive care, surgeries, treatment, as well as dental and vision expenses can qualify for a deduction. Prescription drugs and insulin can also be deducted. Some notable examples of medical expenses that cannot be deducted include:

• Toothpaste and general health products
• Cosmetic procedures or surgeries
• Health club payments
• Non-prescription drugs
• Inexpensive medical expenses

Choosing Tax Professionals

Now you may understand how to identify deductible medical expenses, but the actual process of claiming these deductions is a bit more complicated. You must itemize your expenses and use IRS Form 1040. To make it a bit easier, you may want to consider using Los Angeles tax preparation services. This will also allow you to be more confident in your return. You can find a Los Angeles accounting firm that suits your needs and can handle your filing for you.