The IRS Deductions Blog

Archive for November, 2008

There has always been a vulnerability in safety at medical facilities that leaves patients at risk and staff prone to legal suits. This weakness is the unreliable paper record keeping system that the medical world has relied on for years. Medical information can easily be lost or misplaced when work areas are inundated with stacks of messy paperwork, and precious time is lost trying to fax or mail important patient information. Medical management software offers a standardized, easily accessible solution to prevent medical mix-ups by making patient information more available and secure.

In the U.S., an estimated 100,000 deaths occur every year due to medical errors. This past March on the Oprah Winfrey show, actor Dennis Quaid shared a horrific experience in which his infant twins were accidentally given a dose of a blood-thinning drug that was 1000 times stronger than the dose prescribed. This appalling mistake was caused by a simple mix-up in hard-copy paper work. Quaid said that computerized record-keeping could have easily prevented the nearly-fatal medical error. He now advocates the use of medical management software systems. “It’s going to save lives,” Quaid said, “A lot of lives.”

Medical management software was created by physicians to improve care, reduce errors and simplify record keeping. Preoccupation with paper medical records leads to the neglect of the “humanitarian” side of medical practice. Facilities often become so engulfed in paperwork that they forget to focus on their patients. Medical management software reduces the time spent on paperwork and leaves more time for quality physician and patient interaction. With electronic medical records (EMRs), patients can be automatically billed and coded properly, and the probability of mistakes is reduced.

Beyond increasing safety, medical management software can also save money. By converting a paper-based medical office to a fully integrated EMR system, offices can save in maintenance and storage costs. The creation, tracking, storage and maintenance of paper records cost an average of $8 per record, per year versus EMRs that can be maintained for $1.00 to $2.00 per year. EMRs also reduce the expense of real estate space needed solely for paper record storage. The space saved by EMRs will open up space for other needs, allowing for more efficient use of medical facilities. By integrating medical management software into your practice, you can save time, money and lives.

An industry leading and reliable provider of medical management software is e-MDs. Their medical management software is the standard for affordable and integrated EMR and practice management solutions. The system is completely customizable, and the interface is designed to be simple and intuitive. e-MDs medical management software supports all document formats and allows users to capture anything related to patient information. Lab results, images, referral letters, other vital correspondence and video with sound can all be kept and viewed through the software system. Facilities can even host and view files from third party vendor applications and devices. Save your practice time, money, and reduce mistakes by incorporating a medical management software in your office. Visit e-MDs online at www.e-mds.com or call toll free at (888) 344-9836 to improve your medical records system today.

Items on Amazon Right Now for Integrated Medical Rx Deductible:

Question: Taxes: College Deduction: Tuition&Fees vs. Less Common Expenses?

Im doing my taxes on TurboTax, and there are two things I need to fill in: 1–Tuition and Fees 2– Less Common Expenses

Tuition and Fees I am assuming is what the school charges you directly?? And then the less common expenses, would that be where I put my book & supply expenses? Just want to make sure
Also, besides the books and supplies, what else can I claim??

Answer: You are not allowed to deduct books and supplies UNLESS you MUST purchase these items from the school to be enrolled there.

You want the Tuition and Fees.

The other is an option for say a teacher who needs additional coursework to STAY EMPLOYED in his/her current job.

Edit: You can’t deduct anything other than what is on your 1098 UNLESS you are already working in the field you are studying. Say a nursing assistant could get by with purchasing new scrubs and writing those off because you could use those at work. Then it would be a work deduction.

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There are still some opportunities to save on taxes in 2009

Although the year is about to end, there’s still time to make some last-minute adjustments if you want to reduce your federal tax liability for 2009.

Obama Proposes Tax Credit for College Tuition

New Pet Owners If you are a recent owner of a pet you may not be sure how to take care of your pet properly. It is a lot to learn at first, here are some things to think about. Your pet’s diet is very important. One thing you may want to check if using pet food, has the company had a recall? Also check the labels if you can’t read it, it is probably not good for your pet. With many choices out there make sure it is as healthy as possible. You wouldn’t want your pet eating unhealthy. If possible check with your local health food store they may have some suggestions and may carry organic items for your pet. Most people already know not to give a dog or cat chocolate. Chocolate can actually poison your animal and kill it. Also keep your pet at its proper weight it increases their life span and they have a better quality of life. Fresh water each day is mandatory for a healthy pet. Grooming is another important element to a happy and healthy pet. Grooming should be done on a regular basis. Just as you wash yourself each day your pet should be kept clean. Try brushing your pet to get off loose hair and it will help stimulate the area and get the blood flowing. If you bath your animal make sure you get a high quality shampoo. Give your pet some good oils to keep there coat shiny. Exercise is a great way to keep your pet healthy and a good way to bond. A lot of areas now have parks for dogs so they can become more socialized.

It can improve their overall attitude and behavior. Massage is another way to make your pet feel good and also very good for bonding. If you don’t plan on using your pet to breed you need to have your pet spayed or neutered. Not only does this prevent you having a lot of puppies to try and give away, it is also very healthy for your pet. In most cases it helps reduce the chances of prostate cancer in male animals and breast cancer in female animals. These are just a few common sense things to think about in caring for you pet. If your pet has special needs always consult your vet for further information.

Items on Amazon Right Now for Pet Deduction Irs:

See you at the post office curb at 11:55 p.m. April 15

Ah, April 15 is almost here … the day we gratefully write a check, sign the pretty thank-you card we chose with such care at the card shop, and slip both in that envelope the IRS so kindly provides us.

Items on Amazon Right Now for Irs Deduction Worksheet:

Singletary: Tax preparers getting some overdue IRS oversight

Most of us don’t do our own tax returns. My husband did ours for years. He finally surrendered, too frustrated with the never-ending task of keeping up with the many changes to the tax code.

Basic Explanation of W-4 tax Form : Deductions & Adjustments Worksheet: W-4 Tax Form

Question: Can I convert a non deductible IRA that has after tax 401K funds into a Roth in 2010 when income limits expire?

Answer: Dear Bobby: Great question, not many people have thought that far ahead. Why not? Look at IRS Pub 17 page 124 and it makes clear the procedure to follow when you convert a nondeductible IRA to a Roth. Obviously the $100,000 figure is a hurdle now for you and in 2010 that hurdle will be removed. Make sure to retain all documentation related to the origin of the IRA and the tax paid status on the funds. Remember you can keep that Roth going even after you reach age 70 1/2.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provide. Click on my profile to read more.
Errol Quinn Enrolled Agent Master Tax Advisor

Items on Amazon Right Now for Non Deductible:

Clearwater Historical Society Seeking Enclosed Trailer

The Clearwater Historical Society is in great need of an enclosed trailer (preferably 10′ – 16′ long) to house fish fry equipment and free up precious room in the Historic Plumb House Museum needed for storage of archives, historical collections, etc. The Society, which receives no funding from the City of Clearwater, Pinellas County or the State of Florida, is a 501(c) 3 non-profit agency.

NOmadjik Journey: The Other LA