Articles
Virtually all taxpayers incur deductible expenses related to their occupations. Although certain expenses may be deductible to a variety of occupations, most occupations will have a combination of expenses that are unique to that occupation a...
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Continuing Education:Educational expenses are deductible under either of two conditions: (1) your employer requires the education in order for you to keep your job or rate of pay; or (2) the education maintains or improves your skills in the entertainm...
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Keeping A Good Tip Record:If you are a waiter or waitress, the IRS requires you to keep a record of your tips. The record needs to include tips you receive from:
your customers in cash;
other tipped employees because of a "tip-sharing" arrangemen...
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Auto Travel:Your auto expense is based on the number of qualified business miles you drive. Expenses for travel between business locations or daily transportation expenses between your residence and temporary work locations are deductible; include them...
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Parsonage Allowance:Many members of the clergy are paid a cash “housing allowance,” which they use to pay the expenses related to their homes (e.g. interest, real property taxes, utilities, etc.). Alternatively, some may live in a parsonage...
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Out-of-Town Travel:Expenses accrued when traveling away from “home” overnight for job related reasons are deductible. Your “home” is generally considered to be the entire city or general area where your principal place of employ...
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Professional Fees and Dues:Dues paid to professional societies related to your profession are deductible. However, the cost of initial admission fees paid for membership in certain organizations or social clubs are considered capital expenses.Continuin...
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Equipment Purchases:Record separately from other supplies the costs of business assets that are expected to last longer than one year and cost more than $100. Normally, the costs of such assets are recovered differently on your tax return than are othe...
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Supplies & Expenses:Generally, to be deductible, items must be ordinary and necessary to your medical profession and not reimbursable by your employer. Record separately from other supplies the cost of business assets that are expected to last long...
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Auto Travel:Your auto expense is based on the number of qualified business miles you drive. Expenses for travel between business locations or daily transportation expenses between your residence and temporary work locations are deductible; include them...
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