Getting sick is bad enough. Losing money while you're sick — either because you can't attend to your business, or from out-of-pocket expenses — just makes it worse. If it happens to you, at least make sure you claim the maximum personal tax deduction for eligible medical expenses.

As always, different rules apply in different situations and jurisdictions, so you will need to consult your accountant to see what you are eligible for.

Some general items that tend to qualify for personal tax deductions include medical insurance premiums, out-of-pocket expenses not covered by your insurance provider, or Health Savings Account contributions (U.S. only).

You may also be able to claim expenses related helping out someone else who needs special care due to their medical condition. If you need special equipment or have to alter your home to accommodate a medical condition, those costs may be tax deductible.

Finally, if you are paying for care — whether in your home or at a facility — those costs are likely tax deductible as well.

In your Wave account, all you need to do is drag and drop those expenses into the proper category. (You can create an unlimited number of financial categories for your medical expenses; go to Personal Settings > Financial Categories > Add a Financial Category > Health & Fitness.) Organize your expenses as you incur them throughout the year, and then invite your accountant to come in and review them at tax time, so that he or she can get you the maximum deductions.

Wave Accounting provides this information as a guide to get you started. When it comes to actually reporting financial details to the government, you should check with your accountant or reference the rules in your jurisdiction to see how they apply to your unique situation.