Tag: medical expenses

Tax Deductions for 2008?

April 20th, 2010

Tax Deductions
I would like to know if the following items are tax deductable. If you don’t know or may think you might know, please pass. Yes or no answers only.

1. Gas to and from work. (hey doesn’t hurt to ask)

2. Auto Repair and Up-keep, interest on car loan.

3. Clothing/Hose/Shoes (job requires and company gave 0 twice a year clothing allowance. Now of course more was spent, because there no way 0 would cover clothing/hose/shoes for a year.

4. Dry cleaning for above mentioned clothing.

5. Purchased home in 12/07. Taxes paid on home is a given, but what about upgrades such as plumbing, electrical, complete rip out of bathroom, floors refinished, dangerous trees cut down (power line ran through one and the other a 70′ half dead pine that was just waiting on a good wind). Doesn’t hurt to ask this either. House closed on 12/10/2007, too late to claim closing cost, attorney’s fees, inspection, points?

6. For medical expenses other than doctor visits, how about dental, prescription drugs, test ordered by doctor.

7. Day care for son yes, but what about special fees paid to daycare for trips, snacks, supplies?
Can all be clumped together as "child care" or does it have to be itemized?

8. Son’s school fees, plus the list teacher sent home for 0+ supplies (you know the list, 2-boxes of tissue, 4-packs of notebook paper, 50- pencil, etc)

9. Son’s school clothes

10. I have a personal on-line trading account. Can I deduct losses in stock market, as well as fees to buy and sale?

I know this is a long list, but this is the first that I’ve idemized. Can I still use the 1040 form, or is that a thing of the past. If anyone knows of a website that will tell you what is and what is not deductable, without alot of double talk, please provide link. The IRS website is awful.
Thank you.

Home Based Business Tax Deductions?

April 18th, 2010

I have a home based business. Let’s say that I purchase a computer that is needed for the business. I know that this is considered a business expense and is tax deductible. Do I need a certain amount before they can be taken off taxes? For instance I know you have to have a certain amount of medical expenses before you can deduct them. Is it the same for business expenses?

Medical Expenses tax deductions for Expatriates?

March 30th, 2010

I live overseas permanently, but file US Income Taxes. According to the IRS, I know I can deduct my medical expenses as long as they are 7.5% or more of my gross income. However, can I still do this even though all of my expenses are incurred outside the U.S.?

For tax deductions, what is considered "documentation"?

March 29th, 2010

For all my medical expenses, I don’t have the original receipts, but I have my credit card statements which show the total amount I paid to doctors and medical facilities.

What are some common tax deductions?

March 1st, 2010

I recently bought a house, so I now itemize my tax returns. My finances are very simple. Can I write off student loan interest? medical expenses not covered by insurance? I do charitable donations, but am trying to get more creative. What about work clothes (suits)? Laptop (if I use it for work from time to time)?

tax deductions?

February 25th, 2010

Are there any tax deductions for a child with autism that is 12 years old, and living with the family besides any medical expenses?

do I have to do legal stuff to take advantage of certain tax deductions?

February 19th, 2010

I am currently a contractor and will file a schedule c with my taxes. Next summer I am going to quit my day job in order to home school my daughter. I will only be working part time but would like to purchase medical insurance and look into tax deductable options for medical expenses, something similar to a section 125 that employers offer. What do I need to do to get these kinds of deductions/options

Are there any special tax deductions available to HIV+ people?

February 18th, 2010

Are there any tax deductions made available to HIV+ people or people living with AIDS? Specifically in relation to medical expenses, etc…?