Category Archives: Employee Business Expenses

Commuting or Mileage

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 […]

Sign on Bonus

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 […]

Per Diem Wasted

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 […]

A Ridiculous Situation

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 […]

IRS Increases 2011 Mileage Rates

 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 […]

Coaching Expenses

Today TaxMama hears from Mimi in the TaxQuips Forum who tells us. “My husband coaches my son’s Little League and travel basketball team.  Occasionally, he buys equipment for the team’s use and hosts an after-season party, complete with pizza, cake and beverage.  Some of these expenses are not reimbursed by the league.  Are these deductible?  How about […]

Double Reimbursement

Today TaxMama hears from Doug in the TaxQuips Forum who is arguing with his work buddies. “We are a group of field technicians that work entirely out of our home and have no local office to report to. We drive directly from our home to a customer site, and the visit usually is completed that […]

TaxMama’s Tax Roundtable – March 2011 Session

March 17, 2011 TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and above, and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. REPLAY today’s session below – you can listen and SEE the session and forms.

Employee Business Expenses

Courtesy of IRS If you itemize deductions and are an employee, you may be able to deduct certain work-related expenses. The IRS has put together the following facts to help you determine which expenses may be deducted as an employee business expense. Expenses that qualify for an itemized deduction include:

Eligible Education

Today TaxMama hears from Dil in the TaxQuips Forum, who needs clarification. “The issue is related to the definition of  ‘qualified educational institution.’  The institution is a regionally accredited one, but the full definition of ‘qualified educational institution’ requires that it be a Title IV institution – one whose students may receive federal financial aid. The […]

Commuting Reimbursement

Today TaxMama hears from John in the TaxQuips Forum, who just got a promotion. “ I get a monthly salary as well as a $400 travel allowance.  I live across the border in another state and have a 60 mile round trip as well as tolls.  My employer thought it would be good to write me […]