Tax write off?

[KatieB]

Thanks for the tip about writing off the surgery cost on taxes, never even thought of it, that is so great. But I do have a question, If you financed the surgery you can only write off the amount that you have paid off this year, correct? Then next year the rest that gets paid can or cannot be claimed because the surgery was claimed the year prior? I hope that question isnt too confusing. Any response or input would be appreciated. Thanks.

[AudricIan]

Thanks for the tip about writing off the surgery cost on taxes, never even thought of it, that is so great. But I do have a question, If you financed the surgery you can only write off the amount that you have paid off this year, correct? Then next year the rest that gets paid can or cannot be claimed because the surgery was claimed the year prior? I hope that question isnt too confusing. Any response or input would be appreciated. Thanks.

When I spoke with the representative at the finance company, she said you can write off the entire amount. I am not too sure how that works. I will definately talk to our tax specialist, I am sure there is a way it can be done. All of the money is paid to the doctor at the time of the surgery so you can probably get a "paid in full" receipt. I guess the goverment doesn't have to know how it was paid in full????? Last year we wrote off the entire balance for my son's hospital stay. The insurance left us with about 9k. We wrote it all off before we paid it and we just made our last payment on it in October 07. Our tax man didn't think it would raise any "red flags" so we did it. I will do it again this year too.

[KatieB]

When I spoke with the representative at the finance company, she said you can write off the entire amount. I am not too sure how that works. I will definately talk to our tax specialist, I am sure there is a way it can be done. All of the money is paid to the doctor at the time of the surgery so you can probably get a "paid in full" receipt. I guess the goverment doesn't have to know how it was paid in full????? Last year we wrote off the entire balance for my son's hospital stay. The insurance left us with about 9k. We wrote it all off before we paid it and we just made our last payment on it in October 07. Our tax man didn't think it would raise any "red flags" so we did it. I will do it again this year too.

Thanks for the info. I will definately look into that.