A complete summary of year-end medical expense deduction eligibility, limits, and application methods.
As the year-end tax settlement season approaches, wage earners carefully review various deductions in anticipation of their 13th month's paycheck. The year-end tax settlement medical expense deduction, in particular, stands out because it directly deducts actual expenses from taxes, resulting in a significant tax refund. However, many people mistakenly believe that all hospital expenses are eligible for deductions, leading to disappointment later on. Read more