May I deduct aspirin, vitamins and other medications for myself?

No*. Any medical expense for yourself is not a deductible business expense. Medicines for the daycare children would be deductible. You could deduct your own medical expenses as an itemized deduction on your personal Schedule A tax form.

Some providers believe that such over the counter medications are deductible because they help them get ready to care for children. Other providers believe they can deduct masssages, yoga, meditation tapes, etc. In all cases, these expenses are not business deductions.

  • The only way to deduct personal medical expenses would be through a medical reimbursement plan, or HRA. See my article for more details on this.

Categories: Ask Tom, Deductions, Record Keeping & Taxes