Adding up your medical expenses can be a difficult and time-consuming task. The Medical Expense is a great deduction, but there are a lot of rules and a lot of things you might think you can deduct but you can't. We actually see a lot of people trying to claim medical related expenses on their taxes that are not actually deductible. This is bad news because this creates red flags that will cause the IRS to audit you.
Since there seems to be a lot of confusion in this area, this article is going to show you a majority of the medical related expenses that you cannot deduct on your tax return. That's right. We've already covered what you can deduct, and to give you a better idea of what you can deduct and cannot deduct on your taxes, we are going to cover things that you cannot deduct. So here are 8 medical related expenses you shouldn't try to deduct on your taxes.
1. The cost of diet food.
2. Cosmetic surgery that is not to correct a deformity caused by a birth defect, accident, or illness. In other words, if you get in an accident and need surgery to fix your face, it is deductible. If you want a face-lift to make you look younger, it is not deductible.
3. Life insurance or income protection policies.
4. Medicare taxes that are withheld from your paycheck or that you pay as part of self-employment taxes.
5. Imported drugs that are not approved by the FDA or foreign versions of US drugs.
6. Nonprescription medications including nicotine gum and over the counter patches.
7. Travel your doctor told you to take for a rest or relaxation.
8. Funeral, burial, or cremation costs.
These are only a few of the things you should not be deducting on your medical expenses. Remember, deduction things you should deduct create red flags, which the IRS uses when they choose to audit someone. There is a lot to know about this deduction and other deductions. You need to make sure you learn all you can before you take deductions. The last thing you need is the IRS knocking at your door.
Visit http://www.avoidbeingaudited.com and check out our CD "Itemized Deductions and Gambling Winnings" to learn more about the medical expense deduction as well as other deductions you might qualify for. Also, check out our other resources designed to help you save taxes and avoid being audited.
Since there seems to be a lot of confusion in this area, this article is going to show you a majority of the medical related expenses that you cannot deduct on your tax return. That's right. We've already covered what you can deduct, and to give you a better idea of what you can deduct and cannot deduct on your taxes, we are going to cover things that you cannot deduct. So here are 8 medical related expenses you shouldn't try to deduct on your taxes.
1. The cost of diet food.
2. Cosmetic surgery that is not to correct a deformity caused by a birth defect, accident, or illness. In other words, if you get in an accident and need surgery to fix your face, it is deductible. If you want a face-lift to make you look younger, it is not deductible.
3. Life insurance or income protection policies.
4. Medicare taxes that are withheld from your paycheck or that you pay as part of self-employment taxes.
5. Imported drugs that are not approved by the FDA or foreign versions of US drugs.
6. Nonprescription medications including nicotine gum and over the counter patches.
7. Travel your doctor told you to take for a rest or relaxation.
8. Funeral, burial, or cremation costs.
These are only a few of the things you should not be deducting on your medical expenses. Remember, deduction things you should deduct create red flags, which the IRS uses when they choose to audit someone. There is a lot to know about this deduction and other deductions. You need to make sure you learn all you can before you take deductions. The last thing you need is the IRS knocking at your door.
Visit http://www.avoidbeingaudited.com and check out our CD "Itemized Deductions and Gambling Winnings" to learn more about the medical expense deduction as well as other deductions you might qualify for. Also, check out our other resources designed to help you save taxes and avoid being audited.
