TRACK PRACTICE EXPENSES

September 16, 2008
Michael Sheehan

Physician's Money Digest, February15 2003, Volume 10, Issue 3

In April, when it comes time to doyour 2002 taxes, you may want tokick yourself for not keeping bettertrack of miscellaneous practice-related expenses. Letting those deductionsslip away costs you money, sovow to do better this year. Here's ashort checklist of costs that physiciansoften overlook:

  • Subscriptions to practice-relatedpublications and journals,
  • Dues paid to professional societiesand associations,
  • Office supplies—everythingfrom pens to Post-it notes,
  • Online services used for practice-related purposes,
  • Interest on credit card chargesfor practice-related expenses, and
  • Practice-related telephone callsthat were made while you were awayfrom your office.