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-   -   Does anyone have tax advice? (http://www.ispine.org/forum/ispine/1317-does-anyone-have-tax-advice.html)

Cheryl 02-17-2009 03:45 PM

Does anyone have tax advice?
 
I am preparing my taxes and deducting the surgery last year. While the surgery is pretty straightforward I am wondering about some of the other expenses.

I have a few questions - is anyone an accountant that has experience with this and can PM me?

Thanks,

Cheryl

mmglobal 02-17-2009 05:32 PM

I believe that all costs associated with your surgery (that exceed the threshold) are tax deductable. Actually, I think it's better than that... not just associated with the surgery, but all medical expenses. That should include travel expenses, fees paid to a patient advocate, expenses for your traveling companion, etc...

trkdoc714 02-18-2009 12:42 AM

Cheryl,

You really need an accountant. In the event the out of pocket expenses were above the annaul limit, an accountant could possibly spread it out over a number of years.

I'd ask my accountant but his parole hearing isn't until May.

Bob

chasswen 02-18-2009 04:58 PM

one can not spread it out medical doesnt work that way.:(

Cheryl 02-18-2009 06:15 PM

Is there an annual limit? I've been pouring over the IRS documents about medical deductions and I do not see anything about an annual limit.

In addition I've plugged this all into my software and its not flagging me that I've exceeded any limit.

I'm consulting with 3 different accountants right now and none have mentioned an annual limit. I've quoted them all the cost.

chasswen 02-18-2009 08:12 PM

i do not believe there's any limit. which is good. but when we did ours we had 25k to go in deductions and the money coming back wasn't changing, meaning you can only get back what you have paid in.
we used hr block software and as mark said lodging airline tickets blah blah was deductible. if you like i am sure i can give you the number of a spiney CPA if you would like to talk to her?
thrisry err spelling her name is susan.
chuck

sahuaro 02-18-2009 10:55 PM

We are dealing with the same tax issues. You can go to the Internal Revenue Service website and download Publication 502, which addresses these issues.
My understanding is that you can deduct medical expenses which are over 7 or 7.5% of your gross income. You can deduct $50/day for lodging ($100/day if you were accompanied by someone). It is not clear if you can deduct a spouse's travel costs (the document refers to an accompanying parent...), so that will be a question for our accountant.


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