Assemble Your Tax Deductions for Big Savings

Working with your hands to create a final finished product that is functional and well-crafted can really give you a great sense of accomplishment. It’s even better if you get paid for it. As an employee assembler, you will receive a Form W-2 from your employer at tax time. This form will document your wages and tax withholdings you receive as an employee of the company.

You should consider claiming certain job related expenses in order to reduce the amount of taxes you owe. As an employee, deductions may be claimed on a Schedule A, Itemized Deductions, and are subject to 2% limited miscellaneous itemized deductions classifications. You will have to keep receipts to document your expenses though.

You may be able to deduct:

  • Subscription fees to trade publications and journals relating to your job
  • Union and associate dues
  • Safety equipment, such as steel-toed boots and other protective gear

IF you take certain education courses, you may be able to deduct the cost provided the class meets certain regulations relating to your job. Typically, vocational courses, refresher courses, and new development review classes qualify. If the class is needed to help you meet the minimum requirements of your job, it is not deductible, nor is any education that qualifies you for a new occupation.