Facts and Figures May 2014

*Practice Not Perfect—In a new case, a neurosurgeon had a dispute with a hospital for which she had a contract. She deducted practice-related expenses as a self-employed taxpayer on Schedule C, but the Tax Court determined that the neurosurgeon was never self-employed. Instead, she was functioning as an employee. Thus, the expenses could be written off only on Schedule A, subject to the limit for miscellaneous expenses. 

*Volunteer Programs—One low-cost way to motivate workers is to allow them to take time off for volunteer duties. Of course, this sacrifices workplace hours, but some experts say the goodwill pays off. According to VolunteerMatch, a firm connecting individuals to charitable causes, a volunteer program improves performance, develops leadership skills, promotes teamwork and enhances your company’s image.