A significant step a parent can take to assist in the education of their special needs child is to utilize the medical-expense deduction offered by the government, which can assist with educational costs. Moreover, tax laws permit medical deductions for various stages of illnesses from diagnosis to treatment. Attributes Covered by the Medical Expense Deduction: cost of a school or program if authorized by a licensed health care expert cost for a specific two-year college degree program for candidates with severe learning disabilities cost of additional therapies such as occupational therapy, music therapy, and physical therapy travel cost are included in the education or treatment is eligible for deduction Food and accommodation Parental presence at important conferences, However, there are crucial restrictions to the medical expense deduction as well. Medical costs are only abstracted above a starting point of 7.5% of total income minus exclusions, and 10% for those who are obligated to pay alternative minimum tax. Families with the right to use a variable spending account can utilize the money for the same cost minus a threshold. However, in 2013 the donation maximum decreases from [$5,000.00] to [$2,500.00]. On the other hand, when a family has exceeded the obstacles, various other medical costs are deductible such as contact lens solutions, birth control medications, and health insurance premium cost. Those who wish to declare large medical deductions for special-needs children should think about getting professional tax advice. There are certain tips that families can cling to that will help them along in the medical expense deduction process such as: Organizing the medical necessities for the special education or therapy, which must be mainly about the issue at hand. For example, a family sends their son to military school but they aren’t allowed to take this action as a deduction; even though it helped their child. This is because the program wasn’t the main treatment in treating their child’s difficulties. Make certain to have any therapy prescribed by a doctor or other licensed health-care expert. Maintain meticulous records supporting the deduction. This means everything from prescription letters and aborted checks to travel distances. “These steps may seem tedious”, states a knowledgeable individual well aware of the difficulties of the whole process, “but in the end, it will make a world of difference”. source: http://online.wsj.com/article/SB10001424052970203537304577030453437780894.html?mod=googlenews_wsj
- Sitemap
- Special Education Dictionary
- ADA – Americans with Disabilities Act
- AMAO – Annual Measurable Achievement Objectives
- APD – Auditory Processing Disorder in Children
- CST – Child Study Team
- EHA – Education for All Handicapped Children Act
- FAPE – Free Appropriate Public Education
- IDEA – Individuals with Disabilities Education Act
- IDEIA – Individuals with Disabilities Education Improvement Act
- IEP – Individual Education Plan
- IHCP – Individualized Health Care Plan
- LD – Learning Disabled
- LDT-C – Learning Disabilities Consultants
- LRE – Least Restrictive Environment
- ODD – Oppositional Defiant Disorder
- OHI – Other Health Impairments
- PWN – Prior Written Notice
- RTI – Response to Intervention
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