Do This One Thing Before the End of the Year to Save Money on Your Taxes

Do This One Thing Before the End of the Year to Save Money on Your Taxes

Do This One Thing Before the End of the Year to Save Money on Your Taxes

By / Investing / Monday, 26 November 2018 19:02

This is the last year you can deduct medical expenses that exceed 7.5% of your adjusted gross income. Next year, the threshold will rise to 10% for adults of all ages, so now’s the time to decide whether you want to take advantage of the lower hurdle while you can.

“This is definitely the year to bunch medical expenses,” Lisa Greene-Lewis, a tax expert at TurboTax, tells MONEY. “Starting with your 2019 taxes the threshold will go up to 10%, so you really want to try to maximize them this year.”

 

Read more at Time.

Author

NexPro Media Staff

NexPro Media Staff

Leave a comment

Please publish modules in offcanvas position.