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Tax Strategy: Reacting to the Challenges of the Health Care Law

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The threshold to claim an itemized deduction for unreimbursed medical expenses rises from 7.5 percent of adjusted gross income to 10 percent of AGI for tax years beginning after Dec. 31, 2012. Individuals (or their spouses) age 65 and older before the close of the tax year are exempt from the increased threshold until 2016.

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