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Get More Out of Your Tax Refund: Tax Deductible Oxygen Expenses

Posted by Lisa Burkhart on Mar 8, 2016 12:24:02 PM

This post originally appeared on blog.COPDstore.com you can view the original article here.

Tax time is upon us again. It seems that tax burden is going up every year and refunds area getting smaller and smaller. But, according to the IRS, a large percentage of allowable deductions go unclaimed every year. If you feel like a little light reading before bed time you can review the 2015 US tax code to make sure you’re getting everything you are entitled to. It’s only 74,608 pages! IRS Section 502 which pertains to medical deductions is only 27 pages but we’ve hit some of the highlights here for you so you can ask your tax professional about them. These numbers change over time but generally speaking you should be able to write off 20% of medical expenses over $2120 if your taxable income is $84,000 or less.

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Topics: oxygen therapy, tax deductions, oxygen expenses

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