Your Wealth Questions

New Tax Plan – Medical Expenses

Q: I have a looming medical expense of $5500. Are medical expense deductions being eliminated under the new tax plan for 2018? Should I incur the expense this year?

A: Thanks for reaching out to us. For 2017 and 2018, the new tax law will allow you to deduct qualified medical expenses that exceed 7.5% of your Adjusted Gross Income. This was scheduled to rise to 10% of AGI under the current law so it will work to the advantage of taxpayers.

Ready when you are

Build your customized strategy with our team.

Start with a conversation about your goals, questions, and how a holistic plan could simplify your financial life.

Schedule an intro call

Continue reading

View all articles
social security filing strategy for married couples
Blog

When Should Married Couples File for Social Security?

July 1, 2026
bucket strategy for retirement
Blog

How Should You Organize Your Retirement Portfolio? The Four-Bucket Approach Explained

June 24, 2026
what is dry powder investing
Blog

What Is Dry Powder In Investing? How Much Cash Retirees May Need To Weather Market Downturns

June 9, 2026
Blog

Do You Know Your Marginal Tax Bracket?

June 3, 2026

Roth Conversions: a smart tax move, or an expensive mistake?

A clear, no-pressure guide to deciding whether converting pre-tax retirement savings to a Roth may fit your situation.