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Showing content with the highest reputation on 07/04/2024 in Posts

  1. Following up on Lee's reasoning, if he has an HSA insurance plan, it becomes tax free if he uses HSA funds to pay for the medical costs not covered by his insurance. It isn't a business deduction, but tax free is still a good result. Tom Longview, TX
    2 points
  2. Stay Cool.................
    2 points
  3. Frank Degen over at the NAEA site provided me with the answer (not deductible as a business expense). Old tax court case where a lawyer had been deducting his hearing aids and IRS said no. Took them to court claiming he could not practice law without them but the tax court found in favor of the IRS--because there was a personal benefit, it did not meet the criteria. So i'd think it would be the same for my client.
    1 point
  4. In this same thread.... I have a young minister and wife who have been clients since high school. This year the "refund" was reduced by the EITC without an explanation or a letter. The SSNs are carried forward and 8867 is fully curried. I have been waiting for an explanation but have not heard from anyone yet. I am more than willing to accept that the AI excuse is valid. High-interest target so knock them all into one basket and if they can call the "roundup " a success.
    1 point
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