As any massage therapy business knows, there is no way to avoid tax returns. To ensure accuracy, you must manage tax deductions carefully.
Store all your patient information, clinical notes, and documentation safely in your secure clinic system. We autosave, so you'll never lose work again.
Take control of your healthcare schedule with smart calendar management and scheduling tool. Use automatic client reminders and fully integrated telehealth video calling to give you the tools and flexibility to run a modern practice.
Carepatron online or mobile payments make it easier for your clients to pay for your bills. You save time a massive amount of time while getting paid twice as fast. What a great way to improve your day and cashflow!
In light of this information, it is critical that you are aware of common expenses that cannot be claimed as deductions. The IRS strictly prohibits doing so, and failing to adhere to these standards can result in severe legal repercussions, which not only are costly but can be a blow to your reputation.
Parking tickets and court fees are not able to be claimed back from the IRS and are considered your personal responsibility to take care of. Regardless of the circumstances in which they were charged, it is unlikely that the IRS will view your situation favorably, and it is best to write these off as your own expenses.
Life insurance premiums, where you are the beneficiary, are also not considered deductible by the IRS. Even if you have taken this premium or policy out in order to finance a business loan, it is still not tax deductible.