Ok what I need to know is stuff to write off on your taxes. I am not talking about bogus stuff just to get a write-off. I am talking about stuff that will not be breaking the law. I know the regular stuff like daycare, intrest on house & home equity and stuff. What are some that I am missing? Also, medical write-offs. Prescriptions? Co-pays? Deductibles paid? can any or all of those be used in med write-offs? Are there any that I may not be aware of? And are dogs a write off yet? :lol: They do eat a lot.
We were about to do that but scratched that plan. I will have a 2k deductible this year with the baby will that count? ***not out of pocket. it is the actual deduct.
Koo, i would keep all you receipts for everything this year especially with a baby coming, including your premiums for health insurance. i believe, may be wrong, but the amount needed to claim medicals is a percentage of your income. Needless to say, either way, it is better to be prepared than sorry.
ah nuts! well the deductible dooooes come out of my pocket. Last kid I didn't have to pay this much and I was sure hoping I could write it off. Now if I had my surgery this year and the kids tubes again AND this baby then maybe, just maybe I could have had that min. deduct. but oh well... Now who knows how to get SS# for 2 dogs? :lol: Thanks anyway!
ah, thanks kaci! I think I am just going to have to break down and call Brent... and worry that busy man! :lol:
It is a percentage but you really have to get WAY up there to qualify, it's rediculous. But you never know, having my son 7 years ago with no major problems was over $12,000, who knows how high it will be now. :shock: My insurance was great then, I think I paid about 10% out of pocket, that would not be the case now, part of the reason I'm not having any more. Now we have to pay 20% of anything and everything, even after our deductable is met, but our premiums are double what they were. Craziness, but you can't hardly do without insurance, that's for sure. :roll:
Unreimbursed medical expenses that exceed 7.5% of your Adjusted Gross Income (AGI) are tax deductible on your tax return. So you need a lot of medical/dental expenses compared to your income, to have anything to write off. www.wwwebtax.com/deductions_medical/medical_and_dental_expenses.htm
Koo, don't give up, remember you can add in your health insurance premiums plus prescriptions, etc. It can add up if you track it all.
true...but see my CO pays 100% of our insurance. Can I count that? If so man alive I am in like sin! :lol: With just the premiums alone that would be over 6k a year!! :shock: (that's for me and my kid)
You may be right Ken, not sure - i do pay my premiums post tax so i am allowed to claim them. For both your sakes i hope it is either way.
