The Forgotten Medical Deduction

Medical expenses are probably the most forgotten or over looked deduction on a tax return. Taxpayer's just don't think they have enough expense to surpass the 7.5% of the adjusted gross income. But, if you were to take a few minutes and jot down the number of trips you've made with Johnnie & Sally in tow to the:
1. Doctor's Office, Dentist Office
2. Hospital and clinics
3. To the Lab for Xrays
4. To pick up medical aids such as eyeglasses, contact lenses, hearing aids, braces, crutches, wheelchair,etc.
5. Possible Medical Equipment and Supplies.
There's a deduction for medical miles driven. Parking fees, tolls and local transportation for medical activity. Lodging for medical purposes (up to $50.00 per night per person). Health insurance premiums are deductible, even Stop Smoking expenses are allowed. And of course the most common expense, Prescription Medication. And if you use the same pharmacy all year, most will provide a print out at the end of the year for all your medication purchased.

The numbers may surprise you, so start today, make a list, contact the doctors and dentists and pharmacies you've worked with this past year. Be prepared to try and take this deduction for 2007.



P. Harker, TaxAdvisor 4/Tax Preparation

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