I want to get some dental implants but my dental insurance does not cover it. They will cover the crown, but the implant itself has to come out of my pocket. Here is my question. Are the dental implants tax deductible? If they are, I may squeeze them in before the end of the year and write them off. If they’re not, I’m going to wait until my bonus comes in and then use that to pay for them. I just need to know and my dental office couldn’t answer me about it when I called.

Bruce

Dear Bruce,

I’m guessing you didn’t speak to the business manager, who handles the insurance issues but the receptionist. There is a definite answer to your question.

Yes, medical and dental expenses are tax deductible, but there is a catch. Isn’t there always with the government? According to the Topic No. 502 of the tax code you can deduct “Payments of fees to doctors, dentists, surgeons, chiropractors, psychiatrists, psychologists, and nontraditional medical practitioners.”
However, those deductions are limited to only those that exceed 7.5% of your gross income.

It may be a while since you had to do percentage math problems, but you would take your gross income and then multiply that by .075. That would be the amount you are responsible for before you can deduct anything. As an example, if you make $50,000, then you would be responsible for $3,750. Anything after that you can deduct. Bear in mind, you cannot count any of the cost that is covered by your dental insurance.

Tax rules change every year. The things I wrote were last updated on October 13, 2022, so you will want to check the code again before filing to make sure they are the same. It is always safer to work with a knowledgeable accountant if you can.

HSA’s are a Useful Alternative

Another alternative is to get a Health Savings Account. These allow you to pull pre-tax money from your paycheck in order to use it for medical expenses. Though, of course, there are requirements. There is a limit to what can be contributed to your HSA. Here is the link for the 2022 guidelines.

Your choice for getting dental implants is a great one. They are the best tooth replacements around. You will need to go to a dentist who has training in placing dental implants. It is an advanced procedure, but you will feel like you have a healthy, natural tooth in your mouth again. Whichever financial decision you make, you can at least know the money was spent well on a sound tooth replacement.

This blog is brought to you by Lafayette, LA Dentists Drs. Foreman and Thimmesch.