December 18, 2013

According to the IRS, to be deductible, an expenditure must be both "ordinary" and "necessary" in connection with your profession. The IRS defines "ordinary" as common and accepted in a particular profession and "necessary" as helpful and appropriate for a particular profession. Here’s a list of 16 professional expenditures commonly incurred by young health care professionals:

Please note: Employees may not deduct professional expenses that are eligible for reimbursement from their employer.

 

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