TAX TIP TUESDAY: Medical Deduction Change for 2019

The adjusted gross income (AGI) floor to deduct medical expenses as an itemized deduction is increasing from 7.5% to 10% of AGI in 2019. This means that depending on your situation, it may either be harder to deduct medical expenses, or the deduction you’re used to will be reduced.

If it’s possible for you, bunching multiple medical expenses into one year could allow you to itemize. Call 805-496-2828 to discuss how these changes may affect your situation for 2019.