Tag Archives: unreimbursed employee expenses

Education expense deductions can be beneficial to student taxpayers or their parents, however, knowing what qualifies as an appropriate expense is important. As the taxpayers in the next situation soon learned, even if you spend significant time educating yourself in various topics, if the expense is not deemed ordinary and necessary, it will be categorized […]

Employees who are required to wear a specific uniform to work may qualify for a deduction at tax time as an unreimbursed employee expense. However, as the next situation proves, the required clothing must not be suitable for wear outside of the workplace. The Situation Ralph Lauren Corporation sells, markets, and designs a wide range […]

Employee Business Expense Tax Tips

As an employee of another company or business, you may qualify to deduct any expenses you paid out of pocket. Generally, you will have to itemize your deductions using a Schedule A, Itemized Deductions in order to claim allowable expenses. Follow these five tips to maximize your deduction and avoid delays in processing your return: […]

Bus Drivers Deduct Their Way to Savings

Do you drive a bus for a living? Being on the road, helping people get where they need to go can feel very rewarding. Reward yourself at tax time by claiming deductions which can lower the amount you owe in taxes and put more money in your pocket. If you work for a specific business, […]

As an electrician or other tradesman, you will receive Form W-2, Wage and Tax Statement, from your employer. Payments that you get for services you provide outside of your employer, may be considered pay from self-employment and reportable on Schedule C, Profit or Loss from Business. Independent income would incorporate payments received for introducing overhead […]

Mechanics Check Deductible Expenses

As a mechanic, you are entitled to certain deductions of unreimbursed job-related expenses come tax time. In order to maximize your deductions and lower the amount of taxes you owe, you should keep receipts for all expenses you incur throughout the tax year. The amount of taxes you paid will be listed on a Form […]

Itemized Deduction Limits

Some itemized deductions have different amount limitations, depending on the type of deduction. Generally, the limits are figured on a scale based off a percentage of the taxpayer’s adjusted gross income (AGI). In order to determine what you can deduct, you will have to subtract the corresponding percentage of your AGI from the total amount […]

Deducting Computer Expenses

If your business or job require you to purchase a new computer, you may be able to deduct the cost as a business expense. It may even be possible to deduct the whole cost of the computer in a single year. Employees If you work for someone else, but you purchase your own computer for […]