Tax Time Deductions for Managers

Do you work as a manager of a business or organization, and receive income for your services? If so, you will be required to report your earnings to the IRS and likely file a tax return. You may be able to lessen the amount of taxes you have to pay at tax time by claiming deductions related to work expenses you paid. Managers are often employees of another business, and as such should claim deductions on Schedule a, Itemized Deductions. You need to keep documentation of your expenses. You may be able to deduct expenses such as:

  • Subscription fees for trade publications
  • Any dues paid for associations or unions
  • Supplies or refreshments for meetings
  • Office supplies

If you take any education courses, you are able to deduct the cost if the course meets certain requirements. Refresher courses, developmental classes for new information, and vocational courses typically meet the requirements. If you take education classes that qualify you for a new occupation, you are not able to deduct any expenses as a work related cost. Also, if you take classes to qualify you for the minimum requirements of your job, you cannot deduct any expenses you incur.