Re: Tax Issue for those on Concentrators

[Guest guest]

i have formulas for figuring out how to deduct the electricity for concentrator

got one from rehab and one was in a pulmonary periodical--don't remember which one

don't know where the formulas are--probably with tax stuff

this is the first year that we will need to use itPink Joyce IPF 3/06 Pennsylvania

Subject: Tax Issue for those on ConcentratorsTo: Breathe-Support Date: Friday, October 31, 2008, 11:27 AM

If you have a concentrator you incure operating costs of the electricityto run it. That incremental electricity, in the opinion of a site Ivisited recently, is deductible on your tax return as a medical expense,if you itemize. While I'm not going to give tax advice here, that isconsistent with the way I read the IRS publication on operating costs ofmedical equipment as well. So, depending on your cost, but if itscosting you $480 a year that may very well get you a tax savings of$75-150.

[Guest guest]

Pink

You just multiply the wattage of the concentrator which is easily

available by the number of hours you use it by the rate of electricity

in your area. Only problem most have is converting watts to kilowatts

which you do by dividing by 1000. Your answer should be between $30 and

$70 +/- per month.

Example:

Watts of Machine 450

Use average of 20 hours per day times 30.42 average days per month or

608.4 hours per month

So multiply 450 x 608.4 = 273,780 Watts Per Month or 274 Kilowatts

(rounded)

Average rate of electricity in Texas 16.7 cents per kilowatt hour.

So 274 x .167 = $45.76 per month or $549 per year.

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> From: Bruce Moreland brucemoreland@...

> Subject: Tax Issue for those on Concentrators

> To: Breathe-Support

> Date: Friday, October 31, 2008, 11:27 AM

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> If you have a concentrator you incure operating costs of the

electricity

> to run it. That incremental electricity, in the opinion of a site I

> visited recently, is deductible on your tax return as a medical

expense,

> if you itemize. While I'm not going to give tax advice here, that is

> consistent with the way I read the IRS publication on operating costs

of

> medical equipment as well. So, depending on your cost, but if its

> costing you $480 a year that may very well get you a tax savings of

> $75-150.

>