A doctor spent two weeks doing charity medical work in Mexico.
In calculating her taxable income for the year, her account
deducted as business expenses her roundtrip airline ticket, meals,
and a hotel bill for the two-week stay. She was suprised to learn
that the account, following IRS rules, could not deduct as a cost
of the trip the $8,000 of income she lost by being absent from her
medical practice tor two weeks. She asked the accountant, “Since
lost income is not deductible as an expense, should I ignore it
when I make my decision next year to go to Mexico for charity work”
Can you give the doctor some advice on decision making?