Medical Deduction Threshold to Increase in 2013 [Obamacare tax hike ]

The Billups Company CPA's Inc. ^ | July 14, 2010 | Stephen Ashby

[Busywhiskers]

One of the provisions of the health care reform legislation passed earlier this year increases the medical expense deduction threshold from 7.5% of adjusted gross income to 10% of adjusted gross income, effectively increasing the cost of medical care for many taxpayers who itemize on their tax returns, by reducing their medical deductions.

[Busywhiskers]

A health care reform tax provision affects the deductibility of medical expenses after 2012.

[TYVets]

Loss of a deduction = a hidden or indirect TAX INCREASE.

0bama has spent the money to pay back his campaign contributors at a rate of 5X or more for every dollar they contributed, now come our tax increases!

[unkus]

We’ll probably be in a full blown Depression by then so all this is not definately going to happen.

[JoeFromSidney]

Only once in my life have I been able to deduct anything above the 7.5% level, and that was the year my wife had extensive surgery. So the change won't affect me at all.

However, it really ticks me off when the politicians shed crocodile tears about how expensive medical care is. Why don't they lower that threshold so that most of us get some benefit from it?