Employee Business Expenses

Employee Business Expenses

March 23, 2012
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Courtesy of the IRS Some employees may be able to deduct certain work-related expenses. The following facts from the IRS can help you determine which expenses are deductible as an employee business expense. You must be itemizing deductions on IRS Schedule A to qualify. Expenses that qualify for an itemized deduction generally include:  Share this:

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Missing Hotel Receipts

March 6, 2012
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Today TaxMama® hears from Tim in the TaxQuips Forum with this question. “A relative was sent by his company to work far away from home in different places for weeks at a time. He was given a nonaccountable per diem that was included in Box 1 of his W-2. He did not save the hotel [...]

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Deducting Uniforms

February 1, 2012

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  Today TaxMama® hears from our friend Kristi who is starting a new job. “My new job requires me to wear brown pants and either a certain green or blue shirt.  I would only wear these clothes for work.  Does that qualify as a uniform?”   Share this:

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Commuting or Mileage

January 10, 2012

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Today TaxMama hears from Guy in the TaxQuips Forum with an interesting situation. “My wife took a part time job at the local community college campus about two miles from our house in 2010. Once every week or two she would travel to the campus at another town about 40 miles away. For this travel [...]

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Sign on Bonus

September 22, 2011

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Today TaxMama hears from Valoree in the Tax Quips Forum with this question. “My client received a sign-on bonus of $30,000. He worked awhile for the company, but left before the contract was up. He got a loan to pay back the $30,000 – and paid about $2,400.00 in interest. Is it possible to deduct [...]

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Per Diem Wasted

July 27, 2011

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Today TaxMama hears from Bob in the TaxQuips Forum, who is trying to get it right. Let me summarize.  “I live in NJ and had a temporary job in DC for 6 months in 2010 (total 196 calendar days). I used Pub 1542 [per diem rates] for DC of $258 per day ($65 M&IE and [...]

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A Ridiculous Situation

June 27, 2011

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Today TaxMama hears from MR in the TaxQuips Forum with a stupid problem.  “In the course of a personal audit, IRS made a routine request for an employer letter to verify that his education is not a minimum requirement of the job. MR’s boss at TSA is afraid to write the letter – and is [...]

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IRS Increases 2011 Mileage Rates

June 24, 2011

 Courtesy of IRS http://www.irs.gov/pub/irs-drop/a-11-40.pdf The following standard mileage rates will apply: January 1 – June 30:  51 cents per mile for business miles driven July 1 – December 31:  55.5 cents per mile for business miles driven January 1 – June 30: 19 cents per mile driven for medical or moving purposes  July 1 – December [...]

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