Royal Baby or Commoner - What's the Cost? | AccountingWEB

Royal Baby or Commoner - What's the Cost?

By Teresa Ambord
He finally arrived. Born on July 22, the royal baby has no idea of the life ahead of him, as third in line to the British throne. Newscasters are already talking about the life of public service he will lead. But today at least, he's thinking a bit more selfishly about the next meal, a good nap, and the comfort of a dry diaper.
One thing seems certain. The royal parents, William and Kate, won't need to think about such trivialities as hospital bills. 
In Britain today, the average cost of delivery is $2,641 in US currency, according to a report from the Fiscal Times. Not bad at all, really, considering in United States, the cost of a conventional delivery averages $9,775. If Kate had required a caesarean section, the cost in Britain would've been about $4,435; here, a whopping $15,041.
For American taxpayers, writing off medical expenses has always been a high hurdle. Previously, the only expenses you could deduct were those in excess of 7.5 percent of your adjusted gross income. Now, thanks to the 2010 health care legislation, that high hurdle bumped up to 10 percent. (For those sixty-five and older, the 10 percent threshold won't kick in until 2017. . . not that many senior citizens will be trying to write off maternity costs.)
Regarding the medical cost of his entry into the world and whatever tax implications there may or may not be in Britain, as far as the royal baby is concerned, well, he isn't concerned. Mom and dad can handle it.
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