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A tip for those of you entering med school this fall or (hopefully) next fall.
If you are working even part-time on the ambulance or in a clinically related setting, buy any anticipated medical equipment, supplies, etc. (i.e. - a new stethoscope, oto/opthalmoscope, PDA, software, any books which in any POSSIBLE way relate to the medical field and could possibly be used by you on the ambulance, etc. etc. etc.) right now, before you start school.
The tax deduction for next year could be great. This is because you won't be able to deduct any of that if you aren't working at that time. However, now it counts as unreimbursed employee expense.
Ex. I bought my oto/opthlamoscope kit last year (around 500.00), and was able to deduct it as I was working in EMS part-time, however this fall, I will be dropping my license and would have therefore not been able to claim it.
Note: This only works if you are itemizing deductions.
If you are working even part-time on the ambulance or in a clinically related setting, buy any anticipated medical equipment, supplies, etc. (i.e. - a new stethoscope, oto/opthalmoscope, PDA, software, any books which in any POSSIBLE way relate to the medical field and could possibly be used by you on the ambulance, etc. etc. etc.) right now, before you start school.
The tax deduction for next year could be great. This is because you won't be able to deduct any of that if you aren't working at that time. However, now it counts as unreimbursed employee expense.
Ex. I bought my oto/opthlamoscope kit last year (around 500.00), and was able to deduct it as I was working in EMS part-time, however this fall, I will be dropping my license and would have therefore not been able to claim it.
Note: This only works if you are itemizing deductions.
