TAX DEDUCTIONS

Car (weight) Vs Mileage-Annual vs Bonus Depreciation / Lease 

Current Mileage Rate is 0.655 -- Recall that last year we had two different rates 

Home Office, External office?(rent?) Standard deduction vs Sq Footage and percentage of utility bills 

Augusta Rule for renting out your home to the business for 14 days?  

Professional Services:

Accounting fees, Business Maintenance (meeting minutes, annual reports, officers/advisors), Virtual Assistance, Advisors, Credentialing Document Maintenance, Legal

Corporation state fees, foreign corporation fees  

Office Supplies – Pens, paper, ink cartridges, calendars, staples, paperclips, notebooks etc. 

Business Mailbox, registered agent? 

Retirement Plans (SEP/ SOLO401K/ HSA). Account set-up fees  

Apps/software- web or online programs 

Office, Zoom, Adobe Acrobat, Pdf makers like TurboScan, Quickbooks,  

Apps for Anesthesia: Block Buddy, peds references, or other 

Devices 

Ipad, iphone, computer, laptop, headphones, printers, cables, chargers, protectors, watch, surge protectors, extensions, car connectors, and potentially insurance for these items or their deductibles. 

Professional

Courses, CEUs, Certificates, Professional Dues, Recertification, Core Modules, Malpractice Insurance, Licenses and DEA?  

Conferences and a work meeting planning (must have meeting minutes and be a work day for the IRS). Weekends don’t count so Friday and Monday meeting time 4-6 hours. Meetings with colleagues.  

Work Specifics: 

Stethoscope (think Engraving too?), scrubs, work shoes, Professional clothes, Professional shoes, Work bag/backpack, scrub caps, Lunches or treats for staff, Party décor 

Advertising: Cards, pens, shirts, bags, Embroidery, patches, engraving  

Books / Audiobooks / subscriptions (think Business, Health and medical, personal growth, leadership, influence, negotiation) 

Travel: 

Toiletries, forgotten items, luggage, tracking devices, flights, hotels, car rental 

Per Diem allowed?, cooler for travel (especially if local or driving to assignments). 

If not paid by your credit card: TSA/Global Entry/Passport (If traveling international professionally!

Fees incurred by volunteer activities? Sponsorship? Donations (Political Action Committee is not). Items needed to document these activities and promote them to others as part of your business and your mission statement and purpose!

Consider: Healthcare expenses (insurance), Child Care, Other?