A chance of showers and thunderstorms in the morning. Windy and less humid with highs in the upper 60s. Southwest winds 15 to 25 mph with gusts up to 35 mph...Becoming west 25 to 30 mph with gusts up to 45 mph in the afternoon. Chance of rain 50 percent.
Tax relief can offset these costs by allowing you to lower your tax burden so that you pay less income tax. Can You Deduct Medical Expenses? Yes, you can claim medical expenses on taxes. The IRS permits you to deduct the portion of your medical expenses that exceed 10 percent of your adjusted gross income. The threshold is 7.5 percent if you or your spouse is 65 or older. How to Calculate Your Tax Deduction for Medical Expenses
The first amount is exempted from claims. Of your total medical expenses, you have to subtract 3% of your net income (line 236 of your tax return) or $1,962, whichever is less. So if your net income is $40,000, you cannot claim the first $1,200 of your medical expenses.If your net income is $80,000, 3% is $2,400.here it could be useful is if your medical expenses in the previous year were too low to claim, but maybe the majority of your expenses were in the last three months of that year. This means that you need to carefully consider how you want to set up your 12-month period to claim tax benefits for your medical expenses.