Part of the health care reform bill is a change in the floor for deducting health care expenses. For quite some time, taxpayers who are able to itemize have been able to deduct medical expenses in excess of 7.5% of their AGI, however, as of 2013 this floor will be 10%.
For 2012 taxpayers will have to evaluate whether it would be better to put off expenses (where possible) until 2013 when tax rates are likely to be higher for many people or go ahead and get the expense in before the floor is raised.
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