New tax rules taking effect in 2026 could limit the value of itemized deductions for high-income earners. Here’s what taxpayers should know now and the planning opportunities to consider.
Not all medical expenses are tax-deductible. For 2025, you can deduct eligible costs that exceed 7.5% of your adjusted gross income if you itemize your deductions. This article explains which expenses qualify and how to determine if the deduction will benefit you.
