- Dean C Paley, CPA, CGA ,CFP - http://deanpaley.com -

Tax Tip: Group Medical and Medical Expenses

If you are a member of a group medical insurance plan and you pay all or a portion of the premium through payroll deductions, those premiums may qualify as medical expenses for the medical expense tax credit [1].

paylesstaxjpgOther commonly overlooked medical expenses include:

If you are unsure of whether an expenditure qualifies, contact your accountant to discuss the matter. If you are planning on making a large expenditure, discuss the matter with your accountant do that you fully understand the availability of the tax credit.

There are other opportunities to reduce your tax bill [2] with the medical expense tax credit by taking advantage of the timing of your expenses and by combining family expenses.

Pay Less Tax Services

If you would like to have us prepare your personal income tax [3], please give a call at  (289) 288-206 or email us [4] to arrange your appointment. If you are out-of-town, you may take advantage of our tax-by-email [2] or tax-by-fax [2] services.