7 mistakes to avoid on your 2012 tax return
Overlooked medical deductions
Health insurance premiums are an often overlooked deduction. The portion paid by the employee is a deductible expense when you itemize. This includes the portion you pay to Medicare which is usually deducted from Social Security. Transportation expenses for trips to medical facilities or doctors’ offices are also deductible. The IRS allows 23 cents per mile driven for medical purposes in 2012.
Source: Rick Rodgers, president of Rodgers & Associates.
Advertisement
