Expenses Totaling More Than 2% AGI Are Deductible

Did you know that even if you don’t have an expense account at your job, you may still be able to deduct some expenses you incur while working? The only catch is that your expenses must be greater than 2% of your .

That means that things like taxi fares, fees paid for professional memberships and events, and even business dinners (with limitations) can be deducted, as long as they meet the above requirement and aren’t reimbursed by your employer. Be aware that lunches, dinners, and coffee meetings are only 50% deductible.

You’ll be expected to show proof of your expense, in the form of receipts. And you should always have a clear record of who you met and the purpose for the meeting or business conducted while incurring the expense.