Tag: reply

Can my girlfriend claim the medical expense tax deductions for her medical treatments even if I paid the bill?

March 6th, 2010

All the invoices have her name as the patient and she is not being claimed by anyone.
I should have been more clear, she actually did pay for the expenses by reinbursting me. It’s just that I handle the expenses. I also realize it’s a moot point because I heard that it must exceed 7.5% of AGI, which it does not.
Thanks again for the reply anyway.

Should I bother with tax deductions? What are they?

February 20th, 2010

First, I need to explain that I’ve already heard the definition of a tax deduction- "A reduction of total income before the amount of income tax payable is calculated." (So please don’t reply with just a simple definition) What I need to know is how that affects my return. I’ve asked a lot of people and no one can give me a clear answer. I have student loans out and I need to know how (and how much) it would benefit me to claim a deduction based on the interest I paid on them last year. Will the deductions increase the amount of my return or are deductions only necessary if I think I will owe the IRS money? I’m really confused to please answer in simple layman’s terms. Pleaaaaaaaaaase, for my sanity- only answer if you really know what you’re talking about! Thanks :)