Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-15-2008, 07:05 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,397
Blog Entries: 3
What is included in the definition of Medical Expenses for Tax purpose?

The IRS has broadly defined "Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body. They include the costs of equipment, supplies, and diagnostic devices needed for these purposes. They also include dental expenses."

The IRS expanded the definition of Medical Expenses to include "Medical care expenses primarily to alleviate or prevent a physical or mental defect or illness."

Obviously, the IRS did not want to include expenses that are "merely beneficial to general health, such as vitamins and tonic water."

The IRS further considers Medical expenses as including "the premiums you pay for insurance that covers the expenses of medical care, and the amounts you pay for transportation to get medical care."

Medical expenses also include amounts paid for qualified long-term care services and limited amounts paid for any qualified long-term care insurance contract.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 12-29-2010, 02:26 AM
Banned
 
Join Date: Dec 2010
Posts: 17
Re:What is included in the definition of Medical Expenses for Tax purpose?

For United States individual income tax, taxable income is adjusted gross income (AGI) less allowances for personal exemptions and itemized deductions. Adjusted gross income is gross income less certain specific items. For most individual tax purposes, AGI is more relevant than gross income.
=========================
Earl Nunes



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 05-08-2013, 09:07 AM
Junior Member
 
Join Date: May 2013
Posts: 5
What is included in the definition of Medical Expenses for Tax purpose?

Its a great thing you explain all the medical expense i never knew all these things, i have hire a lawyer for all these matters which is quite expensive for me, thanks for sharing this information its really helpful for me.

Fairways Supported Living

182-184 Hursley Road Toowoomba QLD 4350 Australia

Phone : +61 1300 765 051

Aged Care Community on the Gold Coast, QLD | Supported Living Homes in Australia | Fairways

Providing community aged care supported living housing in Toowoomba, the Glenvale Villas are the perfect option for your loved ones, if they need a little extra help with daily living.


Last edited by TaylahRuatoka : 07-12-2013 at 12:22 AM.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning