Use this form to summarize and organize your tax deductible business expenses. In order to deduct expenses in your trade or business, you must show that the expenses are “ordinary and necessary.” An ordinary expense is one which is customary in your particular line of work. A necessary expense is one which is appropriate, but not necessarily essential in your business. The application of these terms to you relies heavily on the “facts and circumstances” of your unique situation. A business expense deduction must also take into account any reimbursement you have received, or could have received, or could have received for that expense from your employer or another source.
The information provided is an abbreviated summary of the rules for business expenses applicable to medical professionals. For additional details as to specific business expenses, the records required, and the various governmental regulations. Please contact one of our staff.
Continuing Education
- Coaching Expense
- Dance Training
- Music – Arrangements, Tapes, Recordings,
- Training
- Rents – Rehearsal Hall
- Tickets – Performance Audit
- Voice Training
- Other
Promotional Expenses
- Audition Tapes & Videos
- Business Cards
- Film & Processing
- Mailing Supplies – Envelopes, etc.
- Photos – Professional
- Portfolio Expenses
- Resume
- Other
Supplies & Expenses
- Alterations – Repairs (consumes/ wardrobe)
- Cleaning (costumes/ wardrobe)
- Commissioners- Agent/Manager
- Costumes – Wardrobe (special)
- Dues – Union & Professional
- Gifts – Business
- Hair Care- Wigs & Supplies (special business)
- Insurance-Equipment
- Interest-Business Loans
- Makeup – Cosmetics (special business)
- Manicure – (special for hand interests, etc)
- Meals – Business (enter 100% of cost)
- Office Supplies
- Photocopy – Scripts, etc.
- Postage
- Props, Stunt Supplies
- Publications – Trade
- Rents – Equipment, Costumes, etc.
- Repairs – Equipment
- Secretarial
- Tools
- Other
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Telephone Expenses
- Cellular Calls
- FAX Transmissions
- Paging Service
- Pay Phone
- Toll Calls
- Other
Auto Travel
- Audition Travel (mi)
- Business Meetings (mi)
- Continuing Education (mi)
- Job Seeking (mi)
- Out of town Business Trips (mi)
- Purchasing Job Supplies & Materials (mi)
- Professional Society Meeting (mi)
- Parking Fees ($)
- Tolls ($)
- Other
Travel – Out-of-Town
- Airfare, Train & Bus
- Car Rental
- Bridge & Highway Tolls
- Laundry
- Lodging (do not combine with meals)
- Meals (do not combine with lodging
- Parking
- Porter, Bell Captain
- Taxi & Subway
- Telephone calls
- Other
Equipment Purchases
- Answering Machine
- Amplifiers
- Auto Systems
- Musical Instruments
- Pager
- Recorder
- Speaker Systems
- Other
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