Starting a small business? Already own one and have questions? Ask the experts in AARP's small business roundtable discussion.
by Maxim Shvedov, Public Policy Institute, November 6, 2017
Full Report (PDF)
Today taxpayers with high out-of-pocket medical expenses may be able to deduct a portion of their costs from their taxable income. In 2015, 8.8 million taxpayers relied on this tax provision, deducting $86.9 billion. Between 2016 and 2020, the deduction is estimated to reduce the tax bill of these taxpayers by a total of $56.6 billion.
Please leave your comment below.
You must be logged in to leave a comment.
Find the public policy institute content you are looking for by entering in search terms below.
Sign up for alerts on the latest research, events and videos on policy issues.
A State Scorecard on Long-Term Services and Supports for Older Adults, People with Physical Disabilities, and Family Caregivers
By 2030, one out of every five people in the United State will be 65-plus. Will your community be ready?
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
Manage your email preferences and tell us which topics interest you so that we can prioritize the information you receive.
Explore all that AARP has to offer.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at