Test your TaxMed IQ
How well are YOU taking care of your (tax) body? Tell me whether these are Y-Deductible; N-Not Deductible; USC –Under Specific Circumstances
- The one you ALL ask me about — Cost of hotel room for sex therapy?
- Navajo healing ceremonies (a/k/a “sings”)
- Jewish healing ceremonies (a/k/a “zings”)
- Clarinet lessons
- Flute lessons
- Wigs
- Teeth whitening to reverse age-related discoloration
- Marijuana from legal stores like this online dispensary, prescribed by a physician in a state where it is legal.
- Air Conditioner
- Prospective kidney donor expenses
- Breast implants
- Liposuction
Please note that legitimate and unreimbursed medical expenses are only deductible if you itemize deductions and only to the extent that they exceed 7.5% of your adjusted gross income. See your tax adviser or physician for further details. Personal tax advice and bespoke tax planning can save you money, time and a great deal of effort. Firstly, it can deliver a sigificant improvement in your take-home income. Secondly, it can reduce the risk of making errors on your tax return.
Answer directly with Richard through email or use the comment section if you dare be publicly embarrassed. The correct answers will be published shortly.
Richard Streitfeld, CPA, CFE
www.peaceloveandbusinessplanning.com
“Prosperity for the rest of us”
401.223.0205 x118
fax 401.223.0209
“Sorrows are the rags of old clothes
and jackets that serve to cover,
then are taken off. That undressing,
and the naked body underneath, is
the sweetness that comes after grief.”
Rumi
