If you’re age 65 and older, and you have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly, especially if you’re married and both you and your spouse are paying them.

a stethoscope sitting on a wooden table; image used for blog post about medicare premium deductions

But there may be a silver lining: You may qualify for a tax break for paying the premiums.


Continue Reading Can Seniors Deduct Medicare Premiums?

As we all know, medical expenses, such as services and prescription drugs, are expensive. You may be able to deduct some of your expenses on your tax return, but the rules make it difficult for many people to qualify.

a yellow toy ambulance with red and black stripes sitting on a white wood table; image used for a blog post about tax deductions for medical expenses

However, with proper planning, you may be able to time discretionary medical expenses to your advantage for tax purposes.


Continue Reading Medical Expenses – How to Qualify for a Tax Deduction