JohnH Posted March 26, 2021 Report Share Posted March 26, 2021 Listening to today's news, now I'm wondering how many clients are going to be keeping every receipt for hand sanitizer, masks, sanitizing wipes, etc because IRS announced today these are deductible as medical expenses. 1 Quote Link to comment Share on other sites More sharing options...
Pacun Posted March 26, 2021 Report Share Posted March 26, 2021 1 minute ago, JohnH said: Listening to today's news, now I'm wondering how many clients are going to be keeping every receipt for hand sanitizer, masks, sanitizing wipes, etc because IRS announced today these are deductible as medical expenses. Thank you for sharing the good news. The first client that comes with a bag of receipts from masks, etc will be fired. 5 1 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted March 26, 2021 Report Share Posted March 26, 2021 Like telling teachers they can deduct PPE as their $250 above the line. I never met a teacher who didn't spent over $250 already, before PPE became a necessity. Politicians making their voters happy and leaving it up to us to explain how it doesn't benefit them at all. 6 Quote Link to comment Share on other sites More sharing options...
RitaB Posted March 26, 2021 Report Share Posted March 26, 2021 3 hours ago, JohnH said: Listening to today's news, now I'm wondering how many clients are going to be keeping every receipt for hand sanitizer, masks, sanitizing wipes, etc because IRS announced today these are deductible as medical expenses. This seems unfair to those of us who were taught to rub some dirt in it. 3 Quote Link to comment Share on other sites More sharing options...
Yardley CPA Posted March 27, 2021 Report Share Posted March 27, 2021 4 hours ago, Lion EA said: Like telling teachers they can deduct PPE as their $250 above the line. I never met a teacher who didn't spent over $250 already, before PPE became a necessity. Politicians making their voters happy and leaving it up to us to explain how it doesn't benefit them at all. Spot on. For most people, they would need to have purchased a significant amount for it to potentially benefit them even a little. Not to mention, they would need to itemize to begin with. 3 Quote Link to comment Share on other sites More sharing options...
JohnH Posted March 27, 2021 Author Report Share Posted March 27, 2021 I'll bet sooner or later we will have this conversation with someone: CLIENT: I've got $300 worth of receipts for masks & stuff we can take above the line. PREPARER: That won't help. You're confusing masks & stuff with contributions. CLIENT: But my hairstylist said... PREPARER: Sorry, your hairstylist is wrong. CLIENT: (S)he's pretty smart about this stuff. Can you look it up again, just to be sure? 6 Quote Link to comment Share on other sites More sharing options...
Catherine Posted March 27, 2021 Report Share Posted March 27, 2021 18 hours ago, JohnH said: Can you look it up again, just to be sure For a $300 fee, sure. 1 4 Quote Link to comment Share on other sites More sharing options...
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