Medical Bills? Make the most of it......

When it comes to taxes, even the smallest one adds up quick! The IRS has expanded the definition of deductible medical costs over the years. This is why it is important to plan ahead to take advantage of as many medical expenses as possible. We all have medical expenses, don't we?
Common medical expenses are costs of diagnosis, the treatment or prevention of a disease, or for affecting any structure or function the body. The key word here is specific, that the treatment must be specific not just for general health improvement.

So, for example, the IRS successfully denied taxpayers deductions for the cost of weight-control and stop-smoking classes that were designed to improve general health, not to treat a specific disease or ailment. On the other hand, a person with a health problem specifically related to being over weight such as high blood pressure would be allowed as a deduction.

The cost of a weight loss program spent to help keep a job is deductible. The IRS says it will allow any deduction a physician prescribes for the treatment of hypertension, obesity, or hearing problems.

This logic also applies to the cost of a swimming pool. If it is necessary for a person that has polio, then it is allowed. If you live on two floors, and due to a heart attack you install a elevator, the cost of the elevator would be considered a medical expense! Only the cost of it though.

Also generally deductible is the treatment of laetrile, medically unproven, however the IRS cannot make judgements in the medical field, so it is deductible.

Other deductibles : Birth control pills, condoms, face lifts, hair transplants, vasectomies, legal abortions, etc.