7.5% of AGI?

So, I have been thinking a little about doing the taxes this year. According to the Internal Revenue code, one is allowed to have as an itemized deduction all medical expenses, past what the legislators have deemed is an excessive amount of expenses. Essentially, they allow you to deduct medical expenses if you are having a medical disaster. They have determined that if you spend more than 7.5% of your adjusted gross income in medical expenses, the excess is deductible as an itemized deduction. I was working out the calculations, and, this year, the Jeff and Stacey Hoopes family spent 67.56% of its adjusted gross income on medical expenses. Wow.

In other news, if you would like to make non-deductible donation to the for-profit Jeff and Stacey Hoopes foundation, feel free to Paypal us money at jlamro @ hotmail.com.