Wednesday, 25 June 2008

Tax Deductible Massage

You may very well have been getting a tax-deductible massage and did not know it. Yes, that's correct! Your massage therapy may very well be tax deductible.

Many deductions, such as medical expenses, require you to overcome a minimum. For example, only medical expenses that exceed 7.5% of your adjusted gross income are allowed. This means an individual with an adjusted gross income of $40,000 can only deduct medical expenses above and beyond $3,000.

Your medical care expenses typically include medical insurance, some Medicare costs, and miscellaneous costs of health care. These could include costs for making alterations to your home prescribed for your medical condition, removing toxic substances from your home, enrolling in weight-loss programs, dental work, and travel-related expenses to get to your medical care, including mileage expense. Even that massage you got to relieve stress MAY be deductible. Other potentially deductible expenses include prostheses, and ointments or lotions for wound and skin care.

Deductible medical services can be performed by someone other than your doctor. If you have a condition like a bad back and your doctor says you need regular massage, this treatment is deductible. Make sure you get a prescription for massage from your doctor saying you need these services.

Remember that the cost of the massage therapy is TAX DEDUCTIBLE as long as a physician prescribes it.

If you routinely get massage to help manage stress, blood circulation, chronic pain, or other medical conditions ask your doctor for a prescription and get a receipt for each massage from your massage therapist.

No comments: