Skip to main content

Month: October 2021

Are COVID-19 Tests and PPE Tax Deductible?

Nashua, NH Resident Looks for Tax Savings

The IRS has stated that COVID-19 home testing kits can be considered a medical expense under the tax code.  Personal protective equipment (PPE) that is used primarily for preventing the spread of COVID-19 also falls under this tax code.  This includes masks, hand sanitizer and sanitizing wipes.  However, to be eligible for deducting these items on your taxes the total for all medical and dental expenses must exceed 7.5% of your adjusted gross income.

Continue reading

Amherst, NH Resident Considers Real Estate

When investing in real estate properties, you can deduct the money paid in property taxes, property insurance and mortgage interest on your taxes.  Money that goes to improve or repair a rental property can be deducted from your taxes as well.  This will greatly reduce the taxable income that you make from your rental property, making this a more lucrative investment.

Continue reading