Can deduct portion of mortgage, utilities.Equip
Posted By: supplies, insurance, can pay kids, etc. nm on 2007-12-12
In Reply to: tax situation - anon
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- tax situation - anon
- Can deduct portion of mortgage, utilities.Equip - supplies, insurance, can pay kids, etc. nm
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deduct telephone, electric and portion of house payments.
Hope this helps!
I deduct all expenses that relate to my home office-% of utilities, taxes, repairs to that room, --s
mortgage (we do not plan to sell our house so this deduction will not affect us)as my office is used only for that purpose, internet, phone, I print out a daily schedule so paper/ink, computer repairs, pens, pencils, tape, staples, file cabinets, storge bins for tax recepts/tax returns,file folders. Anything/everything I use to do my job.
I was using mileage for another account where I pick up tapes every day, but found for me the time it took to keep track of the mileage, write it down, add it up was not worth the effort so I quit doing it this year.
i specifically refinanced my mortgage because my lender transferred my mortgage to a company
that offshores. Ironically, my NEW mortgage co. just transferred me back to the same company that offshores. I can't win.
Utilities
My office and storage space consists of 22.25% of my house sq footage. Turbo tax will divide all utlities by the amount of use of your office. As for internet, it is under my business name, on my business computer and I need it 90% for business so I write off the entire amount.
Well, I just took the first portion and already they said I
test as I kept a copy of it. I do see ONE error out of the whole test and that's it and they didn't give me test results. I saw the one error on my own. The rest of the test is completely correct. I have been in the MT industry for over 20 years so I know what I'm doing. Don't waste your time testing for AssistMed. Joan
How do u determine how much of utilities to use?
I wouldn't think u could use the whole amount. I get reimbursed for net service so I can't use that, right?
4 me, med/surg equip also,
my opththalmology, orthopedic and cardio/pulmonary ones are used a whole lot. I have 16 stedman books. Biggest surprise is how much i use the pathology/lab one, for various tests, diseases, diagnoses etc. if you are going to take advantage of your discount opportunity (bet i had the same previous job!), get more than 2 if you can, and ebay them when newer versions come out -- or get some off ebay if you cannot buy new or current...build your library!! Having and using your resources make you a more valuable employee!!
just wonder if it could have been other-equip interference?
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Call IRS and tell them I will take your portion.
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also heating up, utilities up, pay has not gone up...in fact
I am tired of being told I have to sacrifice for the good of the someone else, whether it is for a rich, fat corporation, or the government, whoever. why do I have to sacrifice - I already live at poverty level because my wages are the same from 10 years ago, and my cost of living has over doubled in those same 10 years...
Thanks. I have Stedman's Med Equip book-nm
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Why dumb? OP asks nothing about add. equip.
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Never had a problem traveling with equip. NM
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I have posted a portion of MQ article here
Operating Income:
Preliminary, unaudited results indicate that operating income declined from approximately $61 million, for the twelve months ended December 31, 2003 to approximately $23 million for the comparable 2004 period. The decline in operating income includes: 1) the impact of approximately $11 million in costs incurred in 2004 related to the ongoing billing investigation and associated litigation, 2) approximately $4 million in costs associated with separation and replacement of the Company's management team, including members at the executive level and 3) approximately $3 million associated with the write-off of intangible assets associated with products no longer being offered. In addition, the base business, as described above in the Revenues section, experienced a decline in transcription service volume from existing and lost clients and a decline in transcription service rates charged to customers. The impact of the revenue decline was partially offset by several cost saving initiatives including reductions in telecommunications costs, office consolidations and associated staff reductions.
I use the healt portion of www.answers.com
There are several online medical dictionary sites. I suggest you Google 'free online medical dictionary' and go from there. They are all set up so differently. Find one you like.
I only use www.answers.com and www.rxlist.com for meds. All I need.
REnters can write off part of the utilities...
and rent in proportion to the amount of space dedicated exclusively to work. You can write off part of your renter's insurance, too, as it covers your computer, reference books and such.  The point is, renter or homeowner, you can write off all work-related expenses (just remember the "write-off" is only a percentage of the actual expense).
So they provide equip but NOT transcription? Their advertisement is very
When you see the popup ad at top of page it says "Medical Transcription 1/cent a Line"
I had the Stedman's Surg and Equip book
as well, and sold it after a month on E-Bay! There is just no comparison. I believe Stedman's surgical books are divided in 2 parts - naturally the one I had was never any use. The Surgical Word Book is HUGE, and it literally has everything and anything in it, alphabetically or categorically. When I first started MTing 20+ years ago, its all I used as well, and it was tiny then compared to now! It is so much more than surgical words - I mean it, it has nearly everything I ever need to look up. If I don't find it there, I go to Stedman's, and last resort google. Its so worth the investment!
There are sound file conversion utilities out there
that you can download for free. I actually used to have the opposite problem; the doc sent me WMA files which uploaded fine but wouldn't play without glitches, so I used to convert them to WAV files (which worked well). The program I used was called BeeThink. I never actually tried to use it to convert in the opposite direction, so I am not sure it will work for that, but it's worth a try.
http://www.beethink.com/AudioConverter.htm
If they are paying 7cpl for the editing portion lol nm
That was for the EditScript ad right? If it was for the editing portion, I'd take it :-) Sadly it isn't.
Portion of pest control if you have that service. nm
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Want to Buy Lanier TXC Card. Please see post on Equip. Board
I am in need of a TXC card and peripherals in excellent working condition. I only need one, and it is for my own use, not for resale.
Hope someone with an extra will see my post. Thanks
No you are not! I'm a single mom and I'm trying to make a house payment, pay utilities.... SM
buy groceries, and provide for my two kids all on one paycheck. I recently got a job doing QA and getting paid per hour and that has helped me tremendously, but I know how it is to scrape by on 8 cpl, low line counts due to a number of factors that work against us (high ESL accounts, technical difficulties, and interruptions). It isn't worth shelling out $300 for certification when you get very little in return not to mention the $300 could be better spent on clothes for the kids or to pay the electric bill or to buy groceries, etc.
We should be treated better than slave labor! It's ridiculous and very discouraging to say the least. Hang in there! I've been studying coding on my own and I'm about confident enough to take the CCS exam. After that, I may move on to RHIT, but that means back into the office. So we'll see.
You don't need a mortgage if you can't eat.
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W9, equipment, driving back and forth, paper, ink, utilities. They'll get a 2 wk notice
dd
How can you feel loyalty to a company that so clearly has no regard for a large portion of its MTs.
;O
That is my mortgage payment alone - sm
Our expenses for the month are about 5-6K per month.
If only, if only...Our mortgage alone is 2650.
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Knowing what my mortgage is....sm
truly keeps me motivated....the mortgage is HUGE....*bites nails*
*lol*
mortgage shopping
Hi, this board is so helpful regarding so many different things, I thought I'd ask about my current dilema. Just sold my home in SE New Mexico, moving to Albuquerque. Obviously a site built home is the easiest one to get a mortgage for at low interest rates (I have excellent credit), but because of the cost I'm also looking at manufactured/mobile homes on their own land and in a park. This is just for me and my dog, so I don't need anything large anyway. Does anyone have any advice regarding buying a modular/mobile home as I have never owned one before? Thank you for any thoughts you might have regarding this.
Put your name on the deed, just not the mortgage
talk to a good loan officer at a bank about the difference.
it can also perform utilities - one stroke deletes 1 through X words to the left, jump up
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Yes, all utilities, garbage pick-up, home repoairs involving your office, etc
:+
Does China now own a large portion of U.S. Treasury bonds? You sound "in the know."
dd
Info from 2 different mortgage officers.sm
I wasn't implying that you COULDN'T get approved, I was saying that your score would be higher with fewer open accounts, whether or not they were being used.
For most the mortgage/rent is the most expensive.
nm
About 50K in debt not counting mortgage. nm
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Website address is for mortgage co?nm
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The Mortgage-Lifter Tomato
A few years ago, I heard the story behind this great garden vegetable and did order some mortgage-lifter seeds from a catalog.
In the 1960s, a gentleman developed/raised mortgage-lifter tomatoes, selling them off for $1.00 each and sold enough to pay off his $6,000 mortgage. Thus, he named them mortgage-lifters.
Granted, it's too late in the year to start this enterprise now, but selling seedlings to gardeners is one way to earn some extra money.
I live in a rural area and do plant a small vegetable garden every year. I start tomatoes from seeds, and usually end up with more plants than I need. Most people I know do purchase seedlings; they don't start out with seeds. My son and I have decided that we will sell seedlings (more than just tomatoes) next spring at a weekly yard sale in our front yard.
Mortgage-Lifter story is here:
http://www.loe.org/shows/segments.htm?programID=05-P13-00038&segmentID=8
Might be some tips on foodtv.com. Most big cookbooks also give portion sizes and party info. nm
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My mortgage payment is nearly that much. Ten year loan.
Mortgage late payment question. sm
I have 18 months left on my 30 year mortgage, roughly 4K left. If I don't pay my February 1st payment until March 2nd, is it likely they will demand the whole 4K immediately? Just broke right now. 
ask the mortgage company to produce the note
Just heard about this tactic this week. Most mortgages have been sold and resold and if you ask them to produce the original note you signed on the mortgage most of the time they can't and it will buy you some time. Do a search on it.
% of mortgage, water, electric, gas, trash pick-
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They want to deduct your salary from their
business expenses - so if they have NOT paid you, do not cooperate. Send them a registered letter stating simply the total $ owed, and enclose a self-addressed stamped envelope for their convenience - ha - and hold out signing any forms until YOU GET PAID!! What nerve they have!
Even when they deduct your entire (sm)
report if you make one error that QA doesn't catch and the hospital does?
Seems to me like QA should get dinged, not the MT.
TRS is your typical admin-heavy, treat the MT like a number company, made more offensive by their assumption that everyone in America is "Christian" and will adore prayer requests and other off-topic crap on the company email.
You can still deduct your MT expenses if your and IC - sm
regardless of taking the standard deduction. Your write offs for MT are on the Schedule C (not B). My husband and I take the standard deduction as we don't have enough on our Sch. B; then I write off all my IC deductions and report my income on the Sch. C.; putting the bottom line (income minus IC write-offs) on the 1040 line 12. So I am not quite clear on what you are talking about but I know how I do it is how most of us (if not all) do our deductions. You may want to do an amended return.
Yes you can deduct it. Employees get
the same deductions many ICs do particularly since so many companies do not pay for large office space any longer, power, etc. If you have any question at all about how to do it, ask your accountant but Turbo Tax walked me through it last year and this year too. It used to be that they did not ask, but now they do and you can deduct your office based on the size of it and the mortgage etc.
What many offices used to have now belongs to us that work at home and yes, we get that benefit because the offices definitely cannot legally deduct for this. Some companies reimburse for your internet. Oh whoopie. Less are providing equipment. So now we do get to do a whole lot as employees because the costs of these necessities for work have been placed on us by cheap employers who try to get by with as little expense as possible.
You can deduct many things when you are an IC - sm
Obviously since you were only an IC for 2 months in 2006, you can only make deductions for those 2 months, electricity for your home office, supplies, internet connection, phone, if you bought a computer for the IC job, use of your home office (a small fraction of your mortgage)---now if you are planning to move the smart thing to do is not take the home office deduction, it causes problems, a tax professional can explain all that. I take everything but the home office deduction as we have been saying for years were are going to move, and I figure if I finally do it, that will be when we finally do move, I'd probably be able to right off anohter $1k if I took it. So I end up writing off a percentage of my electricity and heat, phone line, internet, computer (took that deduction a few years ago), computer chair, printer supplies, reference books, programs, etc. You get the picture. Anything that pertains to your job you can write off basically. If you drive and pick up/deliver work, you can write off your mileage, just keep records. I have had both employee jobs and IC at the same time, best of both worlds in regards to taxes. I would have extra taxes taken out of the employee job to cover my IC taxes, though my DH has extra taken out and that has always covered my taxes so far. It is not hard to do, use a spreadsheet and let the computer do the work for you.
No, it's not. Poster says nothing about deduct.
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You can deduct A LOT more than just office
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