write off residency visits?

[air bud]

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Does anyone think that I could write off a visit to residency program? I did it on my own time. Isn't that job hunting?

 

[347932]

For anyone think that I could write off a visit to residency program? I did it on my own time. Isn't that job hunting?

Not technically no, but I'm not an accountant. The best way to get an answer you can bank on is to ask one.

 

[Feli]

Ya, ask an accountant.

In all honesty, I think the time you spend putzing over it is much better spent just reading articles and prepping for your interviews, bro. It's just like how some residents save gas receipts from driving to/from surg centers, etc... go learn a bit about billing/coding, do some research, watch surg vids, hit the gym, or just go on a date instead. The $ you have right now is peanuts compared the the end goal (that is assuming you play your cards right and take your life seriously). GL 👍

 

[jehjr]

I'm no accountant, but wouldn't it only matter if you were itemizing deductions and the itemized amount exceeds your standard deductions? Or is there a section for job hunting that is not itemized? Also, I think the amount you can deduct for job hunting is only a couple hundred dollars....

I may be wrong... Tax time only comes around once a year and I never really tried to commit any of that stuff to memory.

 

[347932]

I'm no accountant, but wouldn't it only matter if you were itemizing deductions and the itemized amount exceeds your standard deductions? Depends

Or is there a section for job hunting that is not itemized? Yes

Also, I think the amount you can deduct for job hunting is only a couple hundred dollars....It is more than that and depends on your income and what you spent it on

I may be wrong... Tax time only comes around once a year and I never really tried to commit any of that stuff to memory.

Bottom line...talk to your Accountant. You need a good one anyway and it's never too early to start a business relationship.

 

[Foot Doc]

use Turbotax and go to town!

 

[PMSIII]

Ya, ask an accountant.

In all honesty, I think the time you spend putzing over it is much better spent just reading articles and prepping for your interviews, bro. It's just like how some residents save gas receipts from driving to/from surg centers, etc... go learn a bit about billing/coding, do some research, watch surg vids, hit the gym, or just go on a date instead. The $ you have right now is peanuts compared the the end goal (that is assuming you play your cards right and take your life seriously). GL 👍

LOL Feli that's awesome.

 

[podpal]

Yes, it is job hunting. Read the forms on the IRS.gov website to make sure you get EVERYTHING that's coming to you. BTW I know of someone who did something like this and wrote off over $10,000.00 in a single year. You need to keep copies of flight info, meals, professional clothing such as suits, pantyhose, etc., lodging, mileage if by car and those wonderful application fees. Also any fees assoc w CASPR and CRIP.

If you have any income and with the substantial write off's you may even be eligible for Earned Income Credit, EIC, especially if you have at least 1 child.👍

 

[PADPM]

Yes, it is job hunting. Read the forms on the IRS.gov website to make sure you get EVERYTHING that's coming to you. BTW I know of someone who did something like this and wrote off over $10,000.00 in a single year. You need to keep copies of flight info, meals, professional clothing such as suits, pantyhose, etc., lodging, mileage if by car and those wonderful application fees. Also any fees assoc w CASPR and CRIP.

If you have any income and with the substantial write off's you may even be eligible for Earned Income Credit, EIC, especially if you have at least 1 child.👍

Please don't take the advice about tax issues from ANYONE other than an accountant. Similarly, don't ask an accountant for advice about your foot or ankle.