How much in medical expenses can be deducted from income taxes?

Answer Medical and dental expenses that qualify for income tax deductions must exceed 7.5 percent of your adjusted gross income. Use Form 1040 Schedule A to find qualifying amounts.Source:IRS Medical Dedu... Read More »

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What Expenses Can Be Deducted From Income Taxes?

When filing your personal income tax return, Form 1040, you should be aware of the various expenses that can be deducted. Although this is a confusing area for many taxpayers, deductions save money... Read More »

Are income taxes deducted from a new citizen in the first 5 years?

Yes. And as a US Citizen or a resident alien all of your worldwide income will be subject to income tax when you file your 1040 income tax return for the year.Go to the IRS gov website to find more... Read More »

Can the cost of adult day care be deducted on income taxes?

As of 2010, the cost of adult day care cannot be directly deducted from income taxes. However, you may pay less in income taxes if you have money deducted from your paycheck pretax and put in a fle... Read More »

How much can be deducted on taxes for mileage for medical purposes?

For the 2009 tax year, mileage driven to get medical care is deductible at 24 cents per mile. The miles count from your residence to the place of medical care and back again. Record keeping is esse... Read More »