Tag: medical expense tax

By Anthony Diosdi The coronavirus has affected daily life around the world. The World Health Organization says the risk of coronavirus spread is “very high at a global level.” This dangerous contagion will not only put at risk every American’s physical health and well being, coronavirus threatens our financial security with potential costly medical bills. At this point there may be little we can do to avoid our exposure to the coronavirus. However, anyone that incurs medical expenses as a result of this freighening virus or any other illness, may be able to lessen the financial blow of this disease and deduct at least some of their medical expenses. More importantly, taxpayers may control the timing of a medical deduction and shift the deduction from one year to the next. …