Difference between filing as Home Nursing Business (Schedule C) & Medical Expense (Schedule A)..
If I obtain an EIN to hire nurses to care for my spouse what type of write-offs can I use to offset some of the income created through insurance medical expenses overpayments?
EIN obtained as other - Medical Employer : Excess medical expenses file on line 21 (other income)
List of items I currently write off as a business, which are allowable as 'Ordinary & Necessary if there is no business:
100% Payroll Processing Fees
Accountants expenses & Software (taxes & recordkeeping)
Advertising (newspaper ads for nurses wanted)
Home Office depreciation
Home Office deductions: 4.17% Entire Home Utilities, Maintenance & Repairs, etc.
% of Home Owners Insurance (part of home office deduction)
100% Home Office Supplies & Equipment (paper, ink cart., large & small envelopes, computer (misc.), Printer, Monitor, etc..
Printing of nurses notes yearly
Bank fees & Checks
Postage (send invoices & nursing notes weekly to ins CO)
4.17% Home Owners Asso Dues
Employee Holiday Gifts
Cell Phone (nursing 100%)
Vehicle Mileage (mailing weekly invoices at P.O.)