It depends on your income and your other deductions and how much tax you paid. You won't know until you do your entire tax return next year (assuming your surgery was in 2008).
Oh no, I haven't even had the surgery yet! That was just various medical expenses for my family in 2007. My claim for this surgery won't be till next year.
It's not actually a rebate, its a tax deduction. So if you had no earned income, then it would not do any good. But if you had a job and paid taxes, it will reduce your tax payable, resulting in a nice tax refund.
:sad:
There is no simple answer to that as there is some calculation that depends on your net income less 3%. You subtract that from the medical expenses and come up with a figure. The maximum is $10,000.
Best to check with your accountant or tax prep person.
Just found my tax forms for this year:
My total medical expenses were $6845
You then subtract $1926 or 3% of your net income(whichever is less)
I ended up with a $5096 deduction.
You should not have a problem claiming the medical expenses on your taxes. And it does not even have to be medically necessary. A few years ago I claimed my laser eye surgery. I was even audited that year and it was allowed. My accountant says all elective surgeries as well as medically required surgeries can be claimed as medical expenses.
Just make sure you keep all records and receipts in case they want to look at them later (which is what happened to me in the audit).
Anita
Thanks Cassie. I have heard that BMI's over 40 do require a pre-op diet, and mine is 49, so likely I will have one. I'm glad that things are going well with you. let's keep each other posted ok?
Anita
Hi Cassie
Wow, so you are just starting out on this journey too then. Does he do it at Delta Hospital? Is there a pre-op diet? How long were you off work? Ooooo, so many questions for you!
Anita
Hi, I'm new here and soooo glad I found this site (actually was referred to me from someone on the Obesity Help site).
I was all set to go to Mexico and put down my money, then I came here and found out there were 2 doctors right here in the Lower Mainland. They never came up on all my google searches and other research I had done.
So today I called Dr. Woodhead's office in Delta and they faxed me over the forms and I am going to do it here instead of Mexico. I know it will be an extra $5000 but I just feel so much better about it.
Anyways, so nice to meet you all and know that there are people here locally that I can get support from and give support back to.
Anita