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DenizT
Guest
According to what read, only if the health spending (the part not covered by the health insurrance) is over 7.5% of the gross/net income(?) then it's tax deduble.Does it mean :
Lets say someone is making 1000 doloar a year (for example)
25% federal etc...taxes--> then he gets 750 in his pocket as the net income--> 7.5% of $750 is about $56.
Then if someone spends $100 for healthcare out of his pocket, how much will be tax deductable . Is it the whole $100 or just the amnount over $56, which is $44, tax deductable.
So how much he will get back ? Thanks...
Lets say someone is making 1000 doloar a year (for example)
25% federal etc...taxes--> then he gets 750 in his pocket as the net income--> 7.5% of $750 is about $56.
Then if someone spends $100 for healthcare out of his pocket, how much will be tax deductable . Is it the whole $100 or just the amnount over $56, which is $44, tax deductable.
So how much he will get back ? Thanks...