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Unread 03-12-2013, 10:22 PM   #1
ladysolitary85
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Hearing Aids Tax Deductible?

I know a few of you prolly already did taxes, but this will be my first time including my hearing aid in part of my taxes. When I bought my hearing aid I was told by the lady in the audi office that my hearing aid is tax deductible. Does it really make much of a difference in tax return?
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Unread 03-12-2013, 10:31 PM   #2
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Since I am not tax attorney, and from what I understand is that since it is medical expenses. If I remember correctly, that you must spend more than $7,500 on medical expenses EXCLUDED insurance premiums first before you can start write off the rest of expenses on taxes. That's called spend down formula.

Say, if you spent $5,000 on medical expenses, not counting that you pay for health insurance premium, then you can't write off any medical expenses on taxes. But, if you spent total of $10,000 on medical expenses, again not counting the health insurance premium, then you can write off only $2,500 on medical expenses though your taxes. If your on 10% tax bracket, then you would save only $250 dollars on your tax bill after spending $10,000 on medical expenses. That is why tax write off does not really save much money. I would chase down tax credits instead. And sorry no tax credits on medical expenses that I know of.

To be honest, it is almost impossible to win on tax write off on medical expenses. So the actual saving is pretty much like a drop in the bucket. Also, the tax law may have already changed and I might be wrong or still right.
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Unread 03-12-2013, 10:32 PM   #3
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Depends on the costs and where, it will be classified as medical expenses I believe. Here in Missouri we have to amount to over $7500 for it to be deducted or over 7% I believe it is of your gross pay???
Tax laws changed this year so it may be completely different now?
Will be doing ours saturday.
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Unread 03-12-2013, 10:41 PM   #4
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Thanks guys, bare with me I'm just kinda a newbie about adding the hearing aid with the taxes thingy. I'm in California so I've been trying to research what I can about the subject. I heard there is a tax credit of $500 per hearing aid but I'm not sure if thats accurate.
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Unread 03-12-2013, 10:50 PM   #5
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Tax laws are different in every country. Guess depends on the total allowable.

In Canada-Hearing Aids are a deductible medical expense if one is over the minimum level.

aside: Line 330 Federal total submitted less a "deductible of either $2109 or 3% of net income-line 236. This is from my completed 2012 return.
The tax reduction Federal is !5% and Ontario-line 5868 is 5.05%
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Unread 03-13-2013, 07:27 AM   #6
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Rules for your FEDERAL income tax return in the USA are the same for the whole country. IF your state has a state income tax, those rules will vary from state to state.
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Unread 03-13-2013, 08:46 AM   #7
diehardbiker
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Drphil means different countries, like Mexico, France, Germany, whatsover, that... they don't have same tax laws as Americans.

Quote:
Originally Posted by Jane B. View Post
Rules for your FEDERAL income tax return in the USA are the same for the whole country. IF your state has a state income tax, those rules will vary from state to state.
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J-MAC's quote: "People who try and fail are more superior than people who don't try at all"

"If people let the government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as the souls who live under tyranny."
Thomas Jefferson (1778)

NY Governor Andrew Cuomo MUST go! We, the New Yorker had ENOUGH of Cuomo's BS!
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Unread 03-13-2013, 08:51 AM   #8
Jane B.
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Quote:
Originally Posted by diehardbiker View Post
Drphil means different countries, like Mexico, France, Germany, whatsover, that... they don't have same tax laws as Americans.
There is NO connection between the comments by Dr. Phil and me. You will notice that I DID NOT quote anyone. Just threw out a comment as several seemed confusing because of posters from different states of the US.
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Unread 03-13-2013, 10:51 AM   #9
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I don't know about now but there was a time when the costs of hearing aids, their maintenance & upkeep and a dog were NOT subject to the 7% rule. It was allowed to be placed under "Miscellaneous" since hardly anyone who has medical insurance could reach that 7% plateau.....
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