With 2009 coming to a close, I thought it best to start going through some tax stuff now.  Glad I did.  It gave me the chance to realize that we were sitting on the line of the 7% cutoff for medical write-offs.  So I made sure to pay a couple more of those bills to shove us pretty well over the line.

What I didn’t realize (and you may not either) is that in order to get the write-off on your taxes for medical bills, your expenses, not including insurance premiums, must exceed 7% of your Adjusted Gross Income, NOT your taxable income.  That is a huge distinction.  Many thanks to my brother for pointing that out.

Just one more tidbit of trivia that only comes in handy when you wish it didn’t.

Published in: on December 29, 2009 at 6:23 pm  Leave a Comment  
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