Expense Manager

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Expense Manager Powered By Docstoc
					Introduction to Quicken Medical
      Expense Manager
        Elizabeth Appelbaum
Example of Expense Log
Expense Log: Finances
Expense Log: Balance and Status
Filling in Details, Acme Health Club
Filling in Details, Continued
My Payments
Medical Notes
    Health Club Dues Deductible
• Dues deductible if physician recommends
  them for a specific condition, like obesity
• See The International Health, Racquet &
  Sportsclub Association
• http://cms.ihrsa.org/index.cfm?fuseaction=Pa
  ge.viewPage&pageId=18943&nodeID=15
Filling in Details, Dr. Blackburn
Insurance Payments
Medical Notes, Sulfadiazine
Click on any Column to Sort
 Example: Sort by Provider
 Tax Deduction for Medical Expenses
• Medical expenses greater than 7.5% of
  adjusted gross income are deductible from
  your federal income tax.
• Use Schedule A, Form 1040.
• Medical Manager helps you to claim the
  deduction.
Report: Tax Deductions for 2009
Tax Deductions for 2009, Continued
   Example of Medical Mileage
  Calculation for Deduction, 2008
          Time Period      #      Rate   Total ($)
                          Miles   per
                                  mile
                                   ($)
       First half-year    1166    0.19     221.54
       Second half-year   1280    0.27     345.60
       Total for year     2446             567.14



•Note: If your income tax bracket is 28%, then the
deduction is 28% × $567 = $158.76
•Rate for 2009 is $0.24/mile
             Reference from IRS




• http://www.irs.gov/pub/irs-pdf/p502.pdf

• Get version for tax year desired
            Quicken Website
• http://quicken.intuit.com/personal-finance-
  software/medical-expenses-and-bills.jsp
• Price $69.99
• New versions not needed
                  Review
• About.Com has a favorable review of Medical
  Manager at
  http://financialsoft.about.com/od/reviewsfina
  ncesoftware/fr/MedExpMgr1_2.htm

				
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