Quote:
Originally posted by Moses
I eat the expense because I am not allowed to deduct charitable services on my income taxes.
***you never got paid for this service and therefore never reported income for it which means you did not pay tax on it. NOBODY is allowed to take a deduction for time donated, not just you. if you incurred an actual expense you most certainly CAN and DO deduct it on your tax return.***
Nor am I allowed to claim financial loss for my time out of the office and the lost income due to cancelled appointments.
***Again, no income received, reported or subject to tax so no deduction***
Nor am I allowed to deduct my loss as "bad debt" when the patient doesn't pay me.
***you either never booked a receivable and therefore did not report the income OR you did book a receivable and pay tax on the income in which case you are absolutely allowed to reduce your receivables by that amount and thereby take a deduction***
|
your complaint that you should not have to work for free is legitimate BUT the claim that you are forced to recognize and pay tax on income never received is not.
and for the record i agree that you should not have to spend time treating illegals when there are tax paying citizens waiting in line behind them. it is one of my biggest issues with illegals.