Well . . . it's official.
After Friday, I will be able to write almost all my medical expenses from the year off my taxes. Good to know that Friday's minor surgery (let's call it a procedure, shall we?) will have allowed me to spend over 7% of my income on medical expenses.
This is a HUGE deal . . . because I NEVER thought I could write it off.
Mainly because I make too much damn money.
Which is not a complaint.
Just saying, the world of the self-employed is a funny, funny thing.
Why is any of this important??
Because I now have another $8,000 plus to write off my taxes.
That means not only do I not OWE the government a damn dime this year, but I will get a tax credit!
A credit, did you hear me?
For those that have no idea what I'm talking about . .. I'll make it as simple as possible.
Us self-employed folks are supposed to hold out around 33% of our income for taxes.
Why do we pay the government for ourselves to work . . . I have NO idea.
It makes no sense to me.
But whatever, I'm not trying to politically debate today.
Anyway . . about 19% of it goes to actual income tax.
The other 14% goes to Social Security so I can pay my parent's retirement (because God knows there won't be anything left of Social Security by the time I retire!!!).
Because the government pays me 40 cents a mile because driving is part of my job.
And I drive at least 700 miles per week (normally closer to 900, but we're guesstimating) . . . it makes for a HUGE tax write off.
Not to mention the fax line.
My cell phone line.
My retirement fund.
My health insurance (ha ha ha!! Like they EVER pay for ANYTHING . .. why do I pay for it?????????)
And now the addition of my lover-ly little medical write offs.
Had I not had write offs . . . I would owe the government a bit over $25,000.00 in taxes. Ugh. Paying them that much money just so I can work.
On top of all the sales tax and property taxes I have paid this year. Etc.
Anyway . ..
But now . . . thanks to mileage and the like plus the official tally on my medical bills this year (Insurance covered NOTHING, I paid about $15,000 out of pocket for health related thingees this year) . . . I owe NOTHING.
They actually owe me.
They are actually putting a credit on my account for next year.
I did a dance when my accountant called.
Literally, a jig.
Does this mean I'm happy about having a "procedure" Friday?
If one more doctor takes a scalpel, needle or thermometer to another part of my body, I just might turn homicidal.
But . . . at least there's some light at the end of the tunnel.