Tax Deductions

[ffemt819]

Now that we are just upon tax season. Does anyone have any good ideas or know what kind of deductions we can take for being an emt or paramedic?

[medic001918]

For the best advice, visit an accountant. They can guide you as to what kinds of things can be written off and what can't.

I write off any uniform supplies (boots, equipment, etc).

I write off a portion of my cell phone bill.

I write off a portion of my internet provider (used for required CME's, email)

I write off a portion of any new computer I buy (used for CME's, internet, company email).

Those are a few that come to mind quickly, but check with your accountant first.

Shane

NREMT-P

[spenac]

Consult a professional. If you deduct something not allowed and get caught penalties and interest will more than you'll save. If you did not make much standard deduction will probably get you as much money back.

[Spock]

My CPA has me deduct mileage for my responses to calls and the station for next out crew. I know it is a bad word but I am a volunteer if that makes any difference.

Live long and prosper.

Spock

[Medic2588]

I write off:

Cell phone - because I use it "ONLY" for work :roll:

Uniform and supplies

Vehicle mileage for response beyond normal office/truck work (I'm on an incident management team)

Education expenses

Shane, never thought of the DSL bill, but I'll have to try it! Because I only use that for work too, and not watching 2 Girls 1 Cup... oops, I shouldn't say that outloud :shock:

Devin

[paramedicmike]

Consult a professional. If you deduct something not allowed and get caught penalties and interest will more than you'll save. If you did not make much standard deduction will probably get you as much money back.

Ditto.

You do not want to eff with the IRS. They can take your mistakes and ruin you with them.

Consult a professional.

-be safe

[lonewolf99]

Anything you buy for work, books, pens, boots, toiletries. Part of cell phone bill, internet service and like I said anything you buy for work purposes. any of your recert expenses. Hope that helps.

[AMESEMT]

Good tips! I am an accountant (not CPA) and in my tax class from last semester it is only beneficial to deduct things for work (i.e. mileage in excess from home to work, work portion of cell phone/computer/internet, clothes, etc.) if they exceed your standard deduction (single is 5350, married 10700). Like for me, I don't itemize since I don't have enough deductions for it to make sense. Education expenses are tricky. The tuition to become a paramedic you can't deduct (if I am remembering right) because you have to have that training to operate at that level. So if education is a requirement for a job, then it is not deductible (at least itemizable). But if you really want to do try and deduct stuff from you taxes, see a professional. They are the most up to date on tax law/codes and can find some really nifty ways to save you money.

Good luck and be smart (don't want the IRS after you)!

Ames

[Richard B the EMT]

Save all those receipts! The accountant will help you sort out what can be claimed, and what cannot.

If you use something or purchase something, primarily for the job, it is a "Cost of Doing Business" expense.

Any training for the job is considered job related, and also is a CODB.

Unsure of which is which? See the first line of this posting.

Oh, by the way: The cost of paying a tax preparer, for personal or business expenses, IS considered a CODB, even if you won't be able to claim paying the person for the 2007 1199 report until 2008.