More Articles of the Lipotrim and Medifast Dieting Plan
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Before you know it, year 2007 will be at a close and it will be time to start gathering up all the necessary information for the dreaded, but inevitable tax season to come. It's never too early to get prepared by finding out what types of deductions you can take. Among those deductions are medical expenses, but are you aware of what they are?.
There may be ones that you haven't considered, such as:
Medicare Premiums
Like a lot of people, you may not be too happy with the rising Medicare costs, However,you may derive some sense of satisfaction in knowing that the premiums you paid for Medicare, Part B are considered as part of your medical expenses and are, therefore, deductible. Medicare, Part B deals with such things as physician services, lab tests, medical supplies, outpatient care, physical therapy, speech therapy and ambulances. Premiums for Medicare's prescription medicine coverage can also be counted.
Items That Help Improve Your Eyesight.
If you paid for new eyeglasses, contact lens, had to visit an optometrist or other eye specialist or if you had lasik eye surgery for the purposes of correcting or improving your eyesight, this is all considered a medical expense.
Programs for Weight Loss
If your doctor has prescribed a weight loss program-such as Medifast- for you in order to address a physical problem, such as obesity, arthritis or elevated blood pressure, then this can be deducted. If you have similarly paid fees for programs, such as Weight Watchers, Jenny Craig, etc., you may need to check with your tax consultant or accountant to see if they additionally count as deductions.
Lamaze Classes
Hubby may not be so upset about having had to sit through all those Lamaze classes with you, once you tell him it's can be deducted as a medical expense.
Medical Equipment
Humidifiers, portable oxygen tanks, along with the costs of operating them can be deducted if their purpose is to ease certain health conditions, such as respiratory problems. If you had to purchase canes, walkers or mobility chairs, this may be considered, too.
Home Modifications
Home modifications are deductible, if they were done because of health reasons, such as enabling your home to be handicapped-accessible. For example, you may need to put up ramps to your home's entrances, handrails in your bathroom or make the cabinets easier to reach in your kitchen.
Cosmetic Surgery
Sorry, Michael Jackson, cosmetic surgery done for vanity's sake doesn't count as a medical expense, but getting it to improve a medical condition does.
Programs to Stop Smoking
If your doctor has advised you to get into a smoking cessation program and treatment costs are involved, then they are deductible.
Vehicle Modifications
If you had to have your vehicle equipped with special devices, such as autos for the handicapped in which you need to substitute a hand control rather than using foot pedals or a lifter that makes it easier for you to get into your van, this can be deducted.
Lab Fees
This is especially helpful if you have to pay lab fees out-of-pocket. Expenses for lab tests, such as blood work, urine tests, etc., performed for specific analysis of a physical condition, can be deducted.
Travel
Deductions are applicable if you are required to travel because of medical purposes. For instance, if you have to travel to another city to consult with a specialist or have to travel to another state to have a medical procedure performed that relates to a specific medical condition, this is considered to be a medical expense.
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