Melanie’s Advice: Maximize Those Medical Expenses

I think one of the most missed items for tax purposes is medical expenses.  A tax credit is available to individuals and families based on what they have spent (has to be out of pocket and after any benefit reimbursement) on almost anything to do with their health including:

• Dental
• Optical
• Prescriptions
• Therapy, and so on…

The total needs to exceed a minimum threshold, but because you can use any 12 month period ending in the tax year, If a taxpayer provides their 2016 and 2017 expenses, I will look to maximize the claim, if any is available.

Here is a list of detailed medical expenses.

Do remember that caregivers are also entitled to tax credits as well.

A little preparation goes along way and I can’t wait to help you maximize your tax opportunities.

I provide a wide range of professional accounting, income tax preparation and consulting services including:

• Financial statement preparation
• Accounting and bookkeeping
• Personal Income tax preparation
• Estate returns
• Corporate Income tax preparation
• CRA audits and assistance
• HST and sales tax
• Business succession and valuations
• Business start ups

Let’s get started in three easy steps:

1. Learn more about me ⇨ Send me a LinkedIn connection invite
2. Send me an Email ✉ Send me a message at melanie@miltonaccountant.com
3. Call ✆ Give me a call locally at 905-875-4444

Get more advice from Melanie on her blog and connect with her on Facebook and Twitter as well!