Medical Insurance Premiums

Medical Expense Deduction
Medical Expense Deduction refers to the allowable itemized deduction by individuals for unreimbursed payments for medical care, prescription drugs, and medical insurance premiums, limited to the amount that exceeds 7.5% of the taxpayer's adjusted gross income (AGI).

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.