Hidden Tax Breaks for Retirees

Medical Items

The cost of many medical-related items can be deducted from taxes. Some medical items often overlooked include prescription glasses and contact lenses, bandages, dentures, hearing aids and wheelchairs.

The amount that can be saved will depend on the expenses, of course. The IRS lists the items and explains each in detail. One caveat is that you cannot include medical expenses that were paid by insurance companies or other sources.

If spouses are living separately — which can often be the case if each have different care needs — and they file separately, only the spouse who paid for the item should include it in his tax return.