Medical Costs- Business Deduction??

[esavvymom]

I had an accident this year at one of my shows, and I ended up at the ER. I had a $50 deductible, plus some meds and follow-up doc visits.

Would that be a business tax deduction?? Since it occurred in the course of the business? I don't NEED the deduction...we're already getting a nice fat refund before I enter my biz deductions, but it was just something I was wondering as I enter the numbers I probably will not bother- not worth an audit.

 

[akrebecca]

Hmmmm. That is a good question. I would love to know also as I also had an incident at a show which ended the evening at an Urgent Care Clinic.

 

[Admin Greg]

Yes, the accident and related expenses would likely be considered a business tax deduction. As long as the accident occurred in the course of your business activities and the expenses were necessary for your business operations, they can be claimed as a deduction. However, it's important to keep thorough documentation and receipts to support your claim in case of an audit. It may be worth consulting with a tax professional or accountant for specific guidance on how to properly claim the deduction.