Employee Business Expense
The most frequently asked tax questions related to Employee Business Expense
Army Reservist - Transportation
Asked Wednesday, November 22, 2000 by an anonymous userCPA Answer:
Generally, transportation from your house to the Army reserves meeting that is not overnight is not deductible.
If you travel overnight you may claim the deduction. Transportation from your regular work location to a meeting on a regular workday is deductible as a miscellaneous itemized deduction subject to the 2% AGI limitation on IRS Schedule A.
If you travel overnight you may claim the deduction. Transportation from your regular work location to a meeting on a regular workday is deductible as a miscellaneous itemized deduction subject to the 2% AGI limitation on IRS Schedule A.
Waitress - Meals received
Asked Monday, October 30, 2000 by an anonymous userCPA Answer:
Generally, the value of the employer furnished meals is not taxable to you if furnished on the business premises for the employer's convenience.
Generally, if the meals are furnished during the work period or immediately before or after the work period, then they are not taxable.
If the meals are supplied other than during the work period or immediately before or after the work period (such as on the employees day off) then the value of these meals are taxable.
Generally, if the meals are furnished during the work period or immediately before or after the work period, then they are not taxable.
If the meals are supplied other than during the work period or immediately before or after the work period (such as on the employees day off) then the value of these meals are taxable.
Maternity clothing
Asked Tuesday, October 24, 2000 by an anonymous userCPA Answer:
The costs of your maternity clothes are not deductible.
Safe or Vault expenses
Asked Wednesday, October 18, 2000 by an anonymous userCPA Answer:
The cost of installing a safe for storing investments in your home is deductible on IRS Schedule A as miscellaneous deduction, subject to the 2% Adjusted Gross Income limitation.
Business trip - Additional costs
Asked Tuesday, September 26, 2000 by an anonymous userCPA Answer:
If the additional costs you incurred on your business trip were because your boss extended over a weekend to take advantage of a reduced airfare, they are deductible on either IRS Schedule C, Schedule 2106 or as a miscellaneous itemized deduction on Schedule A.
Tax preparation fees
Asked Saturday, September 23, 2000 by an anonymous userCPA Answer:
Tax preparation and audit fees are deductible. A portion of these fees may be allocated to the individual's business tax forms (Schedule(s) C,E,F) or as an itemized deduction on Schedule A subject to the 2% limitation.
Subscriptions
Asked Saturday, September 23, 2000 by an anonymous userCPA Answer:
Expenses for magazines, books, newsletters, and investment services are deductible as a miscellaneous itemized deduction, subject to the 2% limitation on Schedule A.
Investment management or investment planner fees are also deductible.
Investment management or investment planner fees are also deductible.
Safe Deposit Box
Asked Saturday, September 23, 2000 by an anonymous userCPA Answer:
If the Safe Deposit Box is used to store investment documents such as securities. It is a miscellaneous itemized deduction entered on IRS Schedule A, subject to the 2% limitation.
Nurse - physician's assistant costs
Asked Saturday, September 23, 2000 by an anonymous userCPA Answer:
Physician's assistants and practical nurses are subject to different certification and registration requirements under state law and they perform different duties.
The costs would be considered as qualifying for a new business or profession and therefore not deductible.
The costs would be considered as qualifying for a new business or profession and therefore not deductible.