It's a step in the right direction - not enough as the whole "7.5% of AGI" thing makes it difficult to deduct anyway, but it's a start.
ETA the pretax medical benefit is a help though!
| Printable Version of Topic
Click here to view this topic in its original format |
| Parenting Club Forums > Parenting News > Breast pumps now deductible on taxes |
| Posted by: msoulz Feb 10 2011, 10:14 AM |
| http://www.msnbc.msn.com/id/41512392/ns/health-womens_health/?gt1=43001 It's a step in the right direction - not enough as the whole "7.5% of AGI" thing makes it difficult to deduct anyway, but it's a start. ETA the pretax medical benefit is a help though! |
| Posted by: luvbug00 Feb 10 2011, 10:34 AM |
| must be nice..wish they would make all things child rearing a tax break and not just the child themselves.. |
| Posted by: coasterqueen Feb 11 2011, 08:29 AM | ||
|
| Posted by: moped Feb 11 2011, 09:26 AM | ||
What does 7.5 of AGI mean? Dumb Canadian here! |
| Posted by: msoulz Feb 11 2011, 10:31 AM | ||
AGI is adjusted gross income - basically is your income less your deductible expenses and medical expenses must exceed 7.5% of that number for any of it to be deductible. So if you make $50000/year and you have $20000 in deductible expenses, your AGI is $30000. Your medical expenses over $2250 can be deducted. So you have to have some significant medical expenses to have anything deductible. And yes, all you tax gurus, I know I am oversimplifying! |
| Posted by: Hopwood04 Jul 6 2013, 09:12 AM | ||||
Well someone has to over-simplify the tax system. I think the deductibles in our country need to be reduced to a more proportionate level. |