Tuesday, February 7, 2012

It's tax time again...

Want to find out if that iPad you bought to use in therapy is tax deductible?

AOTA has written an article, Top 10 Tax Tips for Occupational Therapy Practitioners. The full text of this article is available on the AOTA website to AOTA members only. (If you're not an AOTA member, your membership fee is tax deductible :) Yet another reason to be an AOTA member...hint, hint).

As an independent contractor, I thought I had already learned all of the inns and outs of tax deductions, but I did learn a few new tips that I was not aware of, like health insurance is only deductible if you're not eligible for insurance coverage, such as through your spouse's job. It's definitely worth taking a look at, whether you are an independent contractor or employee.

As for the iPad, it is tax deductible if you use it for therapy, but if you also use it for personal use, you can't deduct the full price. Refer to the article for a better explanation.

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