EVENT DESCRIPTION
Many tax professionals struggle with navigating the finer points of medical expense deductions. What qualifies? What doesn’t? And how do you handle complex cases like home improvements or reimbursements? This CE course goes beyond surface-level explanations to help you confidently tackle the challenges of advising clients on Schedule A deductions for medical expenses.
Understanding what qualifies as a deductible medical expense is essential for tax professionals who advise clients on itemized deductions. This intermediate-to-advanced level course takes a deep dive into the rules governing medical expense deductions on Schedule A. We will explore the nuances of what is—and isn’t—considered a qualified medical expense, including long-term care, insurance premiums, travel, service animals, and more. Attendees will gain clarity on frequently misunderstood areas such as reimbursements, impairment-related expenses, and the tax implications of personal injury settlements. Practical examples and real-world scenarios will help solidify your understanding and ensure accurate client guidance.
Major Topics:
Deductible Medical Expense Rules
Capital Medical Improvements Guidance
Reimbursement and Refund Scenarios
Service Animal Deduction Standards
Long-Term Care Considerations
EVENT OBJECTIVE
• Identify deductible medical expenses based on current IRS qualification rules.
• Analyze the 7.5% AGI threshold for calculating medical expense deductions.
• Discuss deductibility of long-term care and medical home improvements.
• Explain when insurance premiums or reimbursements impact medical deductions.
• Explore rules for travel, service animals, and special dietary needs.
