Medical Practice Tax Deductions
Tax deductions for physicians and medical practice owners. From medical equipment to staff costs, healthcare businesses have substantial deductible expenses.
medical practicephysicianhealthcareclinicmedical equipment
check_circleWhat You Can Deduct
- checkMedical equipment and instruments
- checkElectronic health record (EHR) software
- checkMedical supplies and consumables
- checkMalpractice insurance premiums
- checkLab testing equipment
- checkMedical office rent and utilities
lightbulbTips for Keeping Records
- tips_and_updatesLarge medical equipment purchases qualify for Section 179 or bonus depreciation
- tips_and_updatesHIPAA compliance costs are deductible operational expenses
- tips_and_updatesCME (continuing medical education) courses and travel are deductible
- tips_and_updatesStaff salaries and benefits are the largest deductible expense for most practices
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Medical Expenses Deductions
Deductible medical expenses that exceed 7.5% of your adjusted gross income. Includes doctor visits, prescriptions, and health insurance premiums.
Dental Practice Deductions
Tax deductions specific to dental practices. Dental equipment, supplies, and specialized software represent major deductible investments for dentists.