What To Know About Tympanosclerosis
Tympanosclerosis is a post-inflammatory condition affecting the tympanic membrane, or eardrum, and middle ear. Tympanosclerosis can result in hearing loss or be asymptomatic and...
Posted on February 8, 2023
Hearing LossIf you have hearing loss, you may qualify for special tax deductions for hearing-care-related expenses that can help reduce your overall tax burden—and keep more money in your pocket.
Enlisting the help of an accountant to determine your eligibility is always a good idea, but here’s some general information about the IRS tax deductions that everyone with hearing loss should be aware of.
If you itemize deductions instead of using the standard deduction, you can claim uninsured medical and dental costs, including those pertaining to hearing health care, as a tax-deductible expense.
However, your overall uninsured medical and dental expenses must collectively total more than 7.5% of your adjusted gross income (AGI) for you to claim them as an itemized deduction. For example, if your AGI is $60,000, you may deduct the cost of any qualifying medical expenses over $4,500.
Uninsured hearing health costs you can claim as a medical expense include payments for:
Yes, but only if you itemize deductions rather than taking the standard deduction. You can claim a deduction for the fair market value of any hearing device you donated during the previous tax year.
Hearing better is priceless—it can enhance communication skills, improve relationships and allow you to rediscover your zest for life. For people with hearing loss who don’t have insurance that covers hearing devices or accessories, tax deductions can make their hearing health costs more manageable.
If you’re struggling to hear, don’t put off getting help for any reason—financial or otherwise. Request a hearing evaluation today.
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