Tag: Medical Expenses

Are COVID-19 Tests and PPE Tax Deductible?

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.

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Are Health Insurance Premiums Tax-Deductible?

Are Health Insurance Premiums Tax-Deductible?

Self-Employed Milford, NH Resident Has Questions

Self-employed individuals are able to deduct all premiums paid for health insurance.  This deduction is not available if the individual is eligible to participate in an employer’s health care plan but chooses to decline.  If you qualify for coverage under a spouse’s healthcare plan but decline this also, the tax deduction is ineligible.  Keep in mind that self-employed individuals are not able to deduct more than their generated income in a single calendar year.

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What Medical Expenses are Tax Deductible?

What Medical Expenses are Tax Deductible

Litchfield Resident Seeks Advice

Qualified, unreimbursed medical expenses that exceed 10% of your adjusted gross income for the calendar year can be deducted from your taxes.  These deductions include preventative care, treatment, surgeries, dental and vision care.  Prescription medications also fall into this deduction.

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(603) 429-2009

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