(Updated March 2021) Note: this is a good post to bookmark (or “favorite”) so you can come back to it when it’s time to do your income taxes, or print it or send a link to clients and former clients to help them with theirs… Yes – it’s time to look at preparing our income tax statements for Uncle Sam (or even Justin Trudeau!) How does our paid work affect our income taxes or our clients’ taxes?
(Reviewed and Updated February 2022) It’s a good year to revisit patient advocacy services and income taxes. Our first review came in 2010. We looked again in 2013. While little (maybe nothing) has changed, this year I have a new suggestion for you – a bit of a twist. In question is whether or not your patient advocacy services should be included in the list of medical expenses that allow them to be deducted from your clients’ income taxes; whether they can be used to reach that 10% or 7.5% threshold that allows them to be deductible (for the IRS). …
Helping Your Clients Deduct Your Services From Their Income Taxes (IRS and CRA) Continue Reading
