Tax Question

[BaylorCrew07]

Last year, our tax guy told me that I was better off filing for a standard refund, as opposed to itemized (ie using medical expenses, etc). He said since I'm not a homeowner and don't have a mortage, my refund would be larger filing for a standard as opposed to itemized.

Has anyone else run into this? I've saved all of my receipts, etc. in case I choose to file an itemized return and claim all the medical expenses...but if I'll get a larger return from stardard, I'll just do that.

Thanks in advance!

 

[BaylorCrew07]

Last year, our tax guy told me that I was better off filing for a standard refund, as opposed to itemized (ie using medical expenses, etc). He said since I'm not a homeowner and don't have a mortage, my refund would be larger filing for a standard as opposed to itemized.

Has anyone else run into this? I've saved all of my receipts, etc. in case I choose to file an itemized return and claim all the medical expenses...but if I'll get a larger return from stardard, I'll just do that.

Thanks in advance!

 

[BaylorCrew07]

Last year, our tax guy told me that I was better off filing for a standard refund, as opposed to itemized (ie using medical expenses, etc). He said since I'm not a homeowner and don't have a mortage, my refund would be larger filing for a standard as opposed to itemized.

Has anyone else run into this? I've saved all of my receipts, etc. in case I choose to file an itemized return and claim all the medical expenses...but if I'll get a larger return from stardard, I'll just do that.

Thanks in advance!

 

[BaylorCrew07]

Last year, our tax guy told me that I was better off filing for a standard refund, as opposed to itemized (ie using medical expenses, etc). He said since I'm not a homeowner and don't have a mortage, my refund would be larger filing for a standard as opposed to itemized.

Has anyone else run into this? I've saved all of my receipts, etc. in case I choose to file an itemized return and claim all the medical expenses...but if I'll get a larger return from stardard, I'll just do that.

Thanks in advance!

 

[BaylorCrew07]

Last year, our tax guy told me that I was better off filing for a standard refund, as opposed to itemized (ie using medical expenses, etc). He said since I'm not a homeowner and don't have a mortage, my refund would be larger filing for a standard as opposed to itemized.
<br />
<br />Has anyone else run into this? I've saved all of my receipts, etc. in case I choose to file an itemized return and claim all the medical expenses...but if I'll get a larger return from stardard, I'll just do that.
<br />
<br />Thanks in advance!

 

[hmw]

You won't know for sure unless you do the math both ways... more work for you but worth it if it turns out that the medical expenses are in fact more. (Your tax guy shouldn't have made a blanket statement like that without seeing HOW MUCH your med. expenses are, imo.)

 

[hmw]

You won't know for sure unless you do the math both ways... more work for you but worth it if it turns out that the medical expenses are in fact more. (Your tax guy shouldn't have made a blanket statement like that without seeing HOW MUCH your med. expenses are, imo.)

 

[hmw]

You won't know for sure unless you do the math both ways... more work for you but worth it if it turns out that the medical expenses are in fact more. (Your tax guy shouldn't have made a blanket statement like that without seeing HOW MUCH your med. expenses are, imo.)

 

[hmw]

You won't know for sure unless you do the math both ways... more work for you but worth it if it turns out that the medical expenses are in fact more. (Your tax guy shouldn't have made a blanket statement like that without seeing HOW MUCH your med. expenses are, imo.)

 

[hmw]

You won't know for sure unless you do the math both ways... more work for you but worth it if it turns out that the medical expenses are in fact more. (Your tax guy shouldn't have made a blanket statement like that without seeing HOW MUCH your med. expenses are, imo.)

 

[BaylorCrew07]

yeah, I agree - should not have made a blanket statement w/o knowing exact numbers.

I guess I will just total all of my reciepts/medical miles and see what it comes out to. Just by estimating I know it's well over 7.5% of my income. DEFINITELY worth the work to save/get more money <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[BaylorCrew07]

yeah, I agree - should not have made a blanket statement w/o knowing exact numbers.

I guess I will just total all of my reciepts/medical miles and see what it comes out to. Just by estimating I know it's well over 7.5% of my income. DEFINITELY worth the work to save/get more money <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[BaylorCrew07]

yeah, I agree - should not have made a blanket statement w/o knowing exact numbers.

I guess I will just total all of my reciepts/medical miles and see what it comes out to. Just by estimating I know it's well over 7.5% of my income. DEFINITELY worth the work to save/get more money <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[BaylorCrew07]

yeah, I agree - should not have made a blanket statement w/o knowing exact numbers.

I guess I will just total all of my reciepts/medical miles and see what it comes out to. Just by estimating I know it's well over 7.5% of my income. DEFINITELY worth the work to save/get more money <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[BaylorCrew07]

yeah, I agree - should not have made a blanket statement w/o knowing exact numbers.
<br />
<br />I guess I will just total all of my reciepts/medical miles and see what it comes out to. Just by estimating I know it's well over 7.5% of my income. DEFINITELY worth the work to save/get more money <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[hmw]

I'd use a different accountant this year, too. Who knows how many corners this guy cuts with his 'assumptions.' The long tax thread on this forum somewhere has a great link at the end of the thread listing allowable medical deductions... there is more on there than I ever realized we could use. I'd check it out. <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[hmw]

I'd use a different accountant this year, too. Who knows how many corners this guy cuts with his 'assumptions.' The long tax thread on this forum somewhere has a great link at the end of the thread listing allowable medical deductions... there is more on there than I ever realized we could use. I'd check it out. <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[hmw]

I'd use a different accountant this year, too. Who knows how many corners this guy cuts with his 'assumptions.' The long tax thread on this forum somewhere has a great link at the end of the thread listing allowable medical deductions... there is more on there than I ever realized we could use. I'd check it out. <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[hmw]

I'd use a different accountant this year, too. Who knows how many corners this guy cuts with his 'assumptions.' The long tax thread on this forum somewhere has a great link at the end of the thread listing allowable medical deductions... there is more on there than I ever realized we could use. I'd check it out. <img src="i/expressions/face-icon-small-smile.gif" border="0">

 

[hmw]

I'd use a different accountant this year, too. Who knows how many corners this guy cuts with his 'assumptions.' The long tax thread on this forum somewhere has a great link at the end of the thread listing allowable medical deductions... there is more on there than I ever realized we could use. I'd check it out. <img src="i/expressions/face-icon-small-smile.gif" border="0">