Charlie Sheen, Medical Deductions and Taxes?

>> Tuesday, March 1, 2011

Did you know that rehab services are tax deductible medical expenses?   I ran across this post from Don't Mess with Taxes  titled:  Tax note to Charlie Sheen: rehab costs are a deductible medical expense.  It is really a good take on medical deductions along with a few laughs. 


This brings up the fact that it is tax time and most people still haven't filed their taxes yet.  I wrote an article last year on Medical Expenses and how I used them for my 2009 taxes.  Do you itemize your medical expenses?  Did you know that you can ask your pharmacist to run your "2010" expenses. This helps greatly when figuring out your prescriptions.  I have "reports" from my dentist, chiropractor and pharmacy.  I also have my receipts from my eye exam and my new glasses I had to buy.    

The other evening a friend's husband had asked me about using Turbotax for my taxes. They had always used an accountant, but wanted to try online this year.  I have been using TurboTax for the last 6 years probably.  Twice I used an accountant because I was involved in the direct sales business, and wanted assistance.  I reminded the husband that medical expenses are deductible like the hospital expenses for their child that was born and dental expenses that they had incurred in 2010.  I gave him the link to the IRS publication 502.  He was thankful for the advice and the links.   The great thing I was sharing with him was that I have found that Turbotax asks the various questions and you answer them and input your numbers.  Turbotax does all the work for you internally.   You also don't have to pay until you file your taxes with the version I use from my credit union, which is fantastic. 

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