One in five Americans has a severe hearing loss, yet may not be aware of the special tax deductions and credits allowed by the Internal Revenue Service. Knowing about these deductions and credits can help you know which receipts and paperwork to save so you can claim them on your taxes.
Medical deductions
If you itemize your deductions on your taxes and your medical expenses total more than 7.5 percent of your adjusted gross income, you might get a tax deduction. These expenses include mileage to and from doctor and diagnostic appointments, prescriptions, eyeglasses and insurance premiums. Deaf individuals and those with hearing loss have special expenses they can deduct to reach that 7.5 percent threshold.
Examples include:
- Hearing aid, batteries, maintenance and repairs
- Telephone equipment and repair costs including phones with special ringers, captioned phones and teleprinters
- Televisions and related accessories that amplify sound, provide closed captions and their repair costs
- Guide dog, including veterinary, grooming and food expenses
- Special education such as lip-reading instruction
- Wiring your home with special smoke detectors and burglar alarms
So check with your tax advisor on the above information and take advantage of these tax savings opportunities!
Information taken from: http://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Tax-Tips-for-the-Deaf/INF22297.html
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