Are eyeglasses a deductible medical expense on a Federal tax return?

Answer According to IRS Publication 502, eyeglasses and contact lenses that are required for medical reasons are deductible as a medical expense. Eye examinations, saline solutions and enzyme cleaner are ... Read More »

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How much medical expense is tax deductible?

You can deduct your unreimbursed medical expenses that exceed 7.5 percent of your adjusted gross income, but you have to itemize your deductions. For example, if you have $64,000 as your adjusted g... Read More »

Are health insurance premiums a deductible expense on an individual's federal tax return?

Health insurance premiums that you pay can be deducted on your federal income tax return using Schedule A. However, you must itemize your deductions, which requires forgoing the standard deduction.... Read More »

Is Aflac a tax-deductible expense?

Aflac insurance pays cash benefits to policyholders who miss work due to injury. The Aflac claims form states that expenses "will not be used to claim any federal income tax deduction or credit." H... Read More »

Are cellphones deductible as a business expense?

If you use your cell phone to carry out your employer's business or cell phone use is a required condition of employment, you may be able to claim a depreciation deduction from the cost of your cel... Read More »