medical expenses
September 21st, 2008 by Questions
According to the rules of surplus, medical expenses are deducted from income and not the end result. Therefore a disabled person incurring $200 a month in medical expenses only pays $100 less in his monthly surplus payment than his healthy friend with the exact same income amount.
Do you believe this to be fair?
Posted from: Ontario
One Response to “medical expenses”
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September 22, 2008 at 9:26 am, A licensed trustee said:
Whether or not it is fair, it is the law. Medical expesnes (just like day care and support payments) reduce your income prior to determining your surplus income payment if you file for bankruptcy. If a mediacl expense is deductible for tax purposes it may be claimed in a bankruptcy. Of course if you have a benefit plan that re-imburses you for some or all of the expense then you may only deduct the portion you have to pay yourself.
Sorry, that’s how it works…