People often consider three big deduction when they think of itemizing: home mortgage interest, state and local income taxes, and charitable donations. Though, there are many additional deductions aside from the three common ones. These deductions are typically considered “miscellaneous itemized deductions” and are able to be claimed if they are more than 2% of your adjusted gross income.
Expenses from your job that haven’t been reimbursed are one cost that can be deducted, and can help save you money.
These expenses are paid by you, and can include:
- Costs of business related trips, including meals, entertainment, and transportation
- Business insurance, including liability coverage
- Costs of computer equipment or cell phones required for work
- Membership dues for organizations like Chamber of Commerce, if related to work
- Dues paid to professional societies related to your occupation
- Education or training costs
- Home office expenses for regular use
- Job search expenses if sought for the same line of work
- Legal fees incurred through work
- Malpractice insurance
- Passport expenses for international business trips
- Trade magazine subscriptions
- Tools and supplies
- Union dues
- Uniforms
Any of these expenses that your employer doesn’t reimburse you for may be able to be deducted by claiming miscellaneous itemized deductions on your tax return. These expenses need to be directly related to work, and need to be a reasonable amount. They should be ordinary expenses, and have to be necessary to your job to be claimed.