IRS increase medical mileage deduction

[annapurna]

Due to the increased gas prices, the IRS has increase the mileage allowance for medical travel from $0.15/mile to $0.22/mile. This makes a huge difference for those of us who spend a lot of time and gas driving to pain management, consultation, physical therapy, etc. appointments.

If you have enough medical expenses to deduct them on your 1040 (over 7.5% of gross annual adjusted income), or if you participate in a employer or personal medical saving account program, this will be applicable.

Just to give an idea of how this adds up, I totalled up my medical mileage for this year to date (mostly PT and pain management) and got over $1500 dollars at the $0.15/mile rate!!!!

The way I see it, the more money we save by taking advantage of tax breaks, discounts, etc. the more money we'll all have to pay for things that the insurance won't.

[luvmysibe]

What, we are actually getting a tax break! Miracles still take place! Since I have been home recovering I have been reorganzing my entire home office. Yesterday, I spent the day sifting through all of my records, receipts, and documentation for the upcoming tax season. This is some more good news!