Kiplinger

COVID-19 Home Test Kits and PPE are Tax Deductible

According to the IRS, COVID-19 home testing kits are an eligible medical expense under the tax code. Personal protective equipment (PPE), such as masks, hand sanitizer and sanitizing wipes, are also eligible medical expenses if they're used primarily for preventing the spread of COVID-19. That means taxpayers who itemize can deduct

You’re reading a preview, subscribe to read more.

More from Kiplinger

Kiplinger5 min read
4 Steps for Managing Income Withdrawals in Retirement
If you’re like most Americans nearing retirement, you’re worried about whether you have enough savings. In fact, only 22% of those approaching retirement believe they’ve saved enough to retire comfortably. At a time when the stock market is down, inf
Kiplinger3 min read
Calling All Teachers: You Can Deduct More for School Supplies for 2022
The school year has begun, and teachers are dealing with the normal pressures of managing students and classrooms. But lately, there is additional stress for educators, ranging from teacher shortages to possible teacher strikes. And to top it off, in
Kiplinger5 min read
As the Market Falls, New Retirees Need a Plan
Anyone newly retired or nearly so must feel like they have the worst timing in the world. A portfolio tends to be largest near retirement, just before those savings are about to be drawn down. These days, however, most portfolios have lost value; the

Related Books & Audiobooks