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Medical Expenses can be a valuable deduction if you qualify for itemized deductions (see our blog post of February 17th, 2016). Potential deductions include:
Keep in mind that travel costs to and from doctors and hospitals are eligible for deductions. For more information on medical and other deductions, please contact CAUGHEY, LEGNER, & FREEHILL today.
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If your creditor has cancelled debt, it is generally considered income to you with certain limited exclusions for home montages, loan modifications, and refinanced mortgages. Please contact us today if a lender has cancelled debt for you in 2015.
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