Is Cosmetic Surgery Tax Deductible?
If you live in the United States, April 15 is a day you typically dread since it is Tax Day; the day when your tax returns are due to the federal government. Those with savvy accountants are able to list a number of items that are ‘tax deductible’ thus saving themselves hundreds or even thousands of dollars in taxes. So, is plastic surgery in Thailand tax deductible?
Yes, With A Caveat
Generally speaking, cosmetic surgery in Thailand or anywhere else is NOT tax deductible. This is also the case when it comes to things such as burial expenses, cosmetics, toiletries or any program designed to improve your general health. However, it may be possible to claim cosmetic surgery in Thailand as a tax deductible expense under certain circumstances.
As you’re probably aware, procedures for aesthetic purposes such as breast augmentation or a facelift performed in Thailand cannot be claimed but if you can prove that your cosmetic procedure is in fact ‘medically necessary’, you could be in for a pleasant surprise.
You may be able to claim on cosmetic surgery when it is designed to improve the functioning of a body part even if the end result also improves the appearance of the body. For instance, surgery to correct the result of a severe injury may be technically classified as ‘cosmetic’ but it is also deemed to be medically necessary so it may well be tax deductible.
In the event that you meet the criteria and your cosmetic surgery in Thailand is tax deductible, all medical expenses must cost no more than 7.5% of your adjusted gross income (AGI). Therefore, someone with an AGI of $100,000 cannot claim more than $7,500 in medical expenses. Since plastic surgery in Thailand is more affordable than in the U.S. or other Western nations, your procedure is likely to be well within the tax deductible bracket if you are indeed eligible.
visit https://www.naraveeplasticsurgery.com for more information about cosmetic surgery Thailand.
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