Tag Archives: expenses
Many people don’t know they can write off expenses related to searching for a job, as its not a common deduction. That’s likely because there are specific rules regarding what is eligible for deduction and what isn’t. First, expenses must be incurred while searching for a job within your current occupation. You can’t seek employment […]
— Read moreHome Office Do you work from home? Is there a special part of your home that you use exclusively for business on a regular basis? If your home office is the place where you meet clients, customers, or other business related persons, you may qualify to deduct expenses related to the operating costs. Generally, expenses […]
— Read moreThe cost of special tools or equipment for work can be expensive. Thankfully, the IRS allows you to deduct these expenses in most cases. The government considers these deductions to be ordinary and necessary for your job. The term “ordinary” refers to any expenses that are commonly accepted in your trade or industry. The term […]
— Read moreTechnology is all around us. More and more people are using mobile devices and electronic gadgets at work to improve productivity. Because we are connected just about anywhere anymore, workers are no longer bound to an office or stationed at a desk. Instead, many employees can work basically wherever they want. In order to be […]
— Read moreMany industries require their employees to wear certain work clothes or uniforms. As long as you can’t wear these clothes every day as street wear, and donning the uniforms is mandatory at your place of employment, you’ll likely be able to deduct the cost of these work clothes on your tax return. In order to […]
— Read moreNo one enjoys paying taxes, however the fact that you’re entire salary isn’t taxed by the federal government should make it a little bit easier to swallow. During tax time, you’re required to report your entire income, but the IRS deducts certain amounts, like education costs and retirement plan contributions, before determined the amount of […]
— Read moreDo you make your living as a production worker? If so, you should be aware of eligible work-related deductions that you can claim, which will lower your tax liability and help you get the most of your tax refund. Once you receive your W-2 from your employer, you can begin to prepare your tax return. […]
— Read moreFor anyone who is a PC specialist, you must acquire Form W-2, Wage and Tax Statement, through your boss. Any payments you get for providing computer solutions, away from your current regular work, may be deemed as profits coming from self-employment and is reportable on Schedule C, Profit or Loss from Business. Self-employed individuals can […]
— Read moreThere’s more to being a cashier than just scanning a barcode with a red laser. If you’re aware of all the tasks that a cashier does, you’ve likely been employed as one at some point. As a cashier, you are entitled to some expense deductions at tax time that can save you money on your […]
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