Financial Planning, Wealth & Tax Advisory

Deductions: Medical and Dental Expenses

If you paid certain medical and dental expenses this year
for yourself, your spouse, or your dependents (and were not reimbursed), you
may be eligible to claim the medical and dental expenses deduction.
Unfortunately, the hurdle for claiming this deduction is a high one — in order
to claim a deduction for medical expenses, you must itemize deductions on
Schedule A of your federal income tax return and your medical expenses must
exceed 7.5% of your adjusted gross income (AGI).