Are you searching for every possible write-off possible this tax season? This one might make you smile: taking care of your oral health can be tax deductible.
Here are 3 ways caring for your smile could lead to tax deductions:
1. You took care of your teeth.
Preventive dental treatments such as cleanings, sealants, and fluoride can be included as deductible medical expenses. Extensive eligible treatments include fillings, braces and dentures. Check the full list of potential write-offs.
2. You made your appointments.
Did you feel like you were constantly trekking to appointments in 2015? You may be able to claim your travel costs for dental care as a medical expense. This includes public transportation, mileage, and parking fees.
3. You quit smoking.
If you participated in an IRS-approved program to stop smoking, you may be able to deduct related costs as medical expenses. Over-the-counter medications, like non-prescription nicotine patches and gum aren’t eligible.
But how do you determine if your medical and dental deeds meet the IRS’s expectations?
• Your total dental/medical expenses must exceed 10% of your adjusted gross income.
• If you are over 65 years, your dental/medical expenses must exceed 7.5% of your adjusted gross income.