Tax reform has lowered the threshold. By Money On Tap If you itemize, you should note the reduced medical deduction threshold for 2018. This year, you can deduct qualified medical expenses exceeding 7.5% of your adjusted gross income. Next year, the threshold for the medical expense deduction returns to 10% of AGI. (The Tax Cuts […]
Some of the impact of the Tax Cuts & Jobs Act will be felt later than January 1.