Go Back   CDN Business Directory > Main Category > Taxes

 
 
Thread Tools Display Modes
  #4  
Old 12-02-2008, 12:58 AM
Mark Bole
Guest
 
Posts: n/a
Default Re: Is cosmetic surgery a medical expense?

Dick Adams wrote:
- quote -

> NadCixelsyd <nadcixelsyd[at]aol.com> wrote:
> > Can one deduct the cost of a face lift or tummy tuck?

> My favorite answer: It depends.


> So if your AGI is $120,000, you have to have $9,000 in
> allowed medical espenses before it's worth discussing.
> And then you have to be concerned about the notorious
> Alternative Minimum Tax wiping out your Schedule A
> deductions.


Your medical deductions are still allowed under AMT, but with a higher
10%-of-AGI threshhold instead of 7.5%.

- quote -

> If you are gainfully employed (as is the woman who
> supports me), you should have a Flexible Spending Account
> for Health Care expenses.


If your employer allows it...

And if you are *not* gainfully employed (or even if you are), you can
have a Health Savings Account (HSA), which is almost as good, taxwise.

-Mark Bole

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #3  
Old 12-01-2008, 05:27 AM
Dick Adams
Guest
 
Posts: n/a
Default Re: Is cosmetic surgery a medical expense?

NadCixelsyd <nadcixelsyd[at]aol.com> wrote:

- quote -

> Can one deduct the cost of a face lift or tummy tuck?

My favorite answer: It depends.

The general rule is NO.
There are exceptions which have been mentioned in other
responses.

The point I want to make is that allowed medical expenses
are deductible less 7.5% of your adjested gross income.
So if your AGI is $120,000, you have to have $9,000 in
allowed medical espenses before it's worth discussing.
And then you have to be concerned about the notorious
Alternative Minimum Tax wiping out your Schedule A
deductions.

If you are gainfully employed (as is the woman who
supports me), you should have a Flexible Spending Account
for Health Care expenses. So if a tummy tuck or a face
lift is an allowable deduction for you, it's should be
a better tax planning strategy to get it reimbursed from
there than to risk losing the deduction to AMT.

Dick

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #2  
Old 11-30-2008, 09:31 PM
Stuart A. Bronstein
Guest
 
Posts: n/a
Default Re: Is cosmetic surgery a medical expense?

kamlet[at]panix.com (Arthur Kamlet) wrote:

- quote -

> From IRS Publication 502:
> You generally cannot include in medical expenses the
> amount you pay for procedures such as face
> lifts, hair transplants, hair removal (electrolysis),
> and liposuction.
> You can include in medical expenses the amount you pay
> for cosmetic surgery if it is necessary to improve a
> deformity arising from, or directly related to, a congenital
> abnormality, a personal injury resulting from an accident or
> trauma, or a disfiguring disease.


It seems to me that male patern baldness is a congenital abnormality.
It's just not abnormal enough, I suppose.

Stu

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #1  
Old 11-30-2008, 09:25 PM
D. Stussy
Guest
 
Posts: n/a
Default Re: Is cosmetic surgery a medical expense?

"Arthur Kamlet" <kamlet[at]panix.com> wrote in message
news:ggut6n$cfa$1[at]reader1.panix.com...
- quote -

> In article
<70933b81-35d9-40d4-a6d7-ac913b500406[at]c1g2000yqg.googlegroups.com> ,
> NadCixelsyd <nadcixelsyd[at]aol.com> wrote:
> > Can one deduct the cost of a face lift or tummy tuck?

> The code does not permit deductions for "Unnecesary Cosmetic Surgery."
> > From IRS Publication 502:

> You generally cannot include in medical expenses the
> amount you pay for procedures such as face
> lifts, hair transplants, hair removal (electrolysis),
> and liposuction.
> You can include in medical expenses the amount you pay
> for cosmetic surgery if it is necessary to improve a
> deformity arising from, or directly related to, a congenital
> abnormality, a personal injury resulting from an accident or
> trauma, or a disfiguring disease.


In other words, some other specific event or thing must have happened in
order to make it medically necessary or [medically] desired -i.e. it is not
entirely cosmetic.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 
Old 11-30-2008, 07:31 PM
Arthur Kamlet
Guest
 
Posts: n/a
Default Re: Is cosmetic surgery a medical expense?

In article <70933b81-35d9-40d4-a6d7-ac913b500406[at]c1g2000yqg.googlegroups.com> ,
NadCixelsyd <nadcixelsyd[at]aol.com> wrote:
- quote -

> Can one deduct the cost of a face lift or tummy tuck?


The code does not permit deductions for "Unnecesary Cosmetic Surgery."


- quote -

> From IRS Publication 502:

You generally cannot include in medical expenses the
amount you pay for procedures such as face
lifts, hair transplants, hair removal (electrolysis),
and liposuction.

You can include in medical expenses the amount you pay
for cosmetic surgery if it is necessary to improve a
deformity arising from, or directly related to, a congenital
abnormality, a personal injury resulting from an accident or
trauma, or a disfiguring disease.
--


ArtKamlet at a o l dot c o m Columbus OH K2PZH

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 11-30-2008, 07:21 PM
NadCixelsyd
Guest
 
Posts: n/a
Default Is cosmetic surgery a medical expense?

Can one deduct the cost of a face lift or tummy tuck?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 

Tags
cosmetic, expense, medical, surgery
Similar Threads
Thread Forum Replies Last Post
medical expense - I did something dumb
Jane: I see a chiropractor twice a week. I have for the past four years. This year we had very large additional medical expenses. They were high enough...
Taxes 2 01-19-2008 02:04 AM
Medical expense deduction
Jane: If I plan to deduct medical expenses do I only deduct expenses paid in 2004 or expenses incurred in 2004? I recently filed my 2004 return but...
Taxes 8 03-03-2005 07:28 AM
Construction as medical expense
Paul A Thomas: I have a client whose child has physical disabilities that won't get any better (in fact they'll get worse over time). They are in the process of...
Taxes 3 08-07-2004 08:01 AM
Reconstructive surgery- Medical deduction???
tmw1968: I have lost 150 plus pounds and have been recommended by the Dr. to have excess skin removed because of skin rashes, etc. (Belly, arms, Breasts,...
Taxes 1 02-23-2004 04:03 PM
Medical expense
Silent Warrior: My 16 year old son is confined to a wheelchair. Would the purchase of a wheelchair van be deductible as a medical expense? <<...
Taxes 7 12-26-2003 04:06 AM



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT. The time now is 12:58 PM.