Are Dental Implants Tax Deductible?

Are Dental Implants Tax Deductible Todd Shatkin, DDS

Are you looking for a way to replace missing teeth or stabilize your loose dentures while also saving money on your taxes? Look no further than mini dental implants! At the Aesthetic Associates Centre, Dr. Todd Shatkin offers a variety of affordable payment plans through our 3rd party finance providers, making it easy to break down the cost of new dental implants into more affordable monthly installments.

How Are Dental Implants Tax Deductible?

But that’s not all – did you know that dental implants are tax deductible? It’s true! According to the IRS website, payments for “false teeth” are deductible as long as they exceed 7.5% of your Adjusted Gross Income. This means you can get a brand-new set of teeth that can last a lifetime while also saving money on your taxes.

Are Dental Implants Tax Deductible Todd Shatkin, DDSThis rule can be found under IRS Topic 502: Medical and Dental Expenses. However, as with most government-related matters, there are some conditions to be aware of.

Deducting the cost of dental implant procedures can be a bit complicated. To start, you must itemize each expense, and only the amount that exceeds 7.5% of your adjusted gross income can be deducted. For example, if your gross income is $50,000, the first $3,750 of expenses cannot be claimed, and only the amount over that is deductible.

It’s important to note that this applies to all medical and dental expenses, not just individual procedures. Additionally, any expenses covered by insurance cannot be included in the deduction calculation. So, while deducting dental implant expenses can be tricky, it’s worth considering the potential tax savings.

It’s always a good idea to consult with a tax professional to ensure you understand the rules and regulations regarding tax deductions, but knowing that dental implants can be considered a deductible expense can be a great benefit for those looking to replace missing teeth while also managing their finances, and achieving the smile and function they deserve.

Consider A Health Savings Account (HSA)

Another great way to help you benefit from tax savings with dental implant treatment is to consider a health savings account (HSA). Health savings accounts allow individuals to deduct money pre-taxed to place it into a special account for use on approved medical and dental costs. Generally, these funds are made available to you via an HSA debit card that you can use directly at the dental office of your choice. If you are not sure how to get an HSA set up, inquire with your human resource department to learn about the requirements. HSA’s are a great option to be able to keep some of your hard earned money in your pocket, and utilize it on the necessary care you need.

Schedule A Free Consultation Today!

Dr. Shatkin and our team of skilled dentists are here to help you determine if mini dental implants are the right choice for you. During your free consultation, we can discuss the affordability and potential tax saving benefits of dental implant treatment, provide a complimentary 3D x-ray and CT scan. We offer a range of payment plans, including options that extend up to 120 months, depending on your needs.

Don’t let missing teeth hold you back any longer. Schedule a free consultation with us today and take the first step towards a healthier, happier smile with mini dental implants.

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