1.8 million cosmetic surgeries were performed in 2018 alone. That's quite a few cosmetic surgery patients and a whole lot of money tied up in medical bills.
But the question remains - is cosmetic surgery tax deductible? Find out in this overview of cosmetic surgery and taxes.
Is Cosmetic Surgery Tax Deductible?
Cosmetic surgery is not usually deductible. But if it is required for some reason by your profession or is covered by your insurance there is an increased chance you'll get a tax-deductible.
Medical expenses related to a procedure required to cure a disease, improve your health, or restore your body to its natural state are all eligible for tax write-offs.
In some states, there has even been recent consideration to placing a tax specifically on the cost of cosmetic surgery.
What Cosmetic Surgery Can Be Written Off?
Some cosmetic surgery expenses can almost always be written off. A good indicator that you can write-off a cosmetic surgery is if your insurance covers it.
Cosmetic surgery expenses that are usually eligible for writing off include:
The cost of the surgery itself will be determined on a case-by-case basis, much in the way that insurance firms determine what they'll cover for carriers.
Remember, you should always check with your CPA or tax advisor to avoid any mix-ups on your taxes.
What Cosmetic Surgery Cannot Be Written Off?
While you can write-off necessary expenses as previously covered, any non-essential medical procedures will require the full financial burden fall to the patient. In most situations you will not be able to write-off the following:
- Hair transplants
- Teeth whitening treatments
- Weight-loss programs
- Hair removal procedures
Keep in mind, there are exceptions to every rule. Talking to a knowledgable tax professional will help you decipher the confusing tax code and get the most back on your tax returns.
How Are Exceptions Determined?
Exceptions to cosmetic surgery as a tax write-off are used in the case of work-related surgery. This could be in the case of adult entertainers or for an actor working for a production company.
If your job requires the surgery for one reason or another, there's an increased chance you can get the cost written off on your taxes.
However, to be eligible for write-offs the surgery must still meet the requirements of being necessary and ordinary for the profession. For example, the average office worker can't write-off their breast augmentation.
Check out this page on general knowledge related to medical tax assistance to learn more.
Speaking to a Tax Professional About Cosmetic Surgery
Patients considering cosmetic surgery are sure to wonder - is cosmetic surgery tax deductible? The answer is sometimes yes and sometimes no.
It's best to talk to a tax professional who has experience with cosmetic surgery write-offs. They will be able to tell you if your specific situation qualifies for a write-off or if there may be any loop-holes you can use to your advantage. For more beauty-related questions, check out our latest blog posts.
