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.