A chance of showers and thunderstorms in the morning. Windy and less humid with highs in the upper 60s. Southwest winds 15 to 25 mph with gusts up to 35 mph...Becoming west 25 to 30 mph with gusts up to 45 mph in the afternoon. Chance of rain 50 percent.
Tax relief can offset these costs by allowing you to lower your tax burden so that you pay less income tax. Can You Deduct Medical Expenses? Yes, you can claim medical expenses on taxes. The IRS permits you to deduct the portion of your medical expenses that exceed 10 percent of your adjusted gross income. The threshold is 7.5 percent if you or your spouse is 65 or older. How to Calculate Your Tax Deduction for Medical Expenses
In order to claim a medical expense tax deduction on Schedule A, your expenses have to add up to at least 10 percent of your adjusted gross income. You only get to deduct the expenses that exceed this 10 percent threshold. For example, if your adjusted gross income is $100,000 and you have $12,000 in qualified medical expenses, youâll get to deduct $2,000. The first $10,000 of your medical expenses is used to meet the 10 percent threshold. The remaining $2,000 can be claimed as a tax deduction. The deduction threshold used to be 7.5 percent of adjusted gross income, but it increased to 10 percent in 2013. However, if you or your spouse was 65 or older, the IRS kept the threshold at 7.5% of your adjusted gross income through 2016.