Small Business
The most frequently asked tax questions related to Small Business
Employment Agency costs
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
The amount you paid the employment agency for your new job are deductible as a job hunting miscellaneous itemized deduction reportable on IRS Schedule A subject to the 2% limitation.
Mechanic - steal tipped safety shoes
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
You are allowed a deduction for your steel tipped safety shoes.
You can claim it as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
Musician - formal wear
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Generally, if your job requires you to wear expensive clothing you may not claim a deduction.
A deductions for work clothes have been allowed for musicians formal wear. Speak to your local CPA about the deductibility of your formal wear.
A deductions for work clothes have been allowed for musicians formal wear. Speak to your local CPA about the deductibility of your formal wear.
Construction worker - overalls
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Special work clothes that protect you from injury are deductible.
They include Steel tipped safety shoes, hard hats, gloves etc. You may not deduct the costs of overalls or aprons that protect your regular clothing.
They include Steel tipped safety shoes, hard hats, gloves etc. You may not deduct the costs of overalls or aprons that protect your regular clothing.
Union - Campaign costs
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Any campaign costs incurred for running for any union office are not deductible.
Union - Strike fund payments
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Voluntary payments to a union strike fund are not deductible.
Dues - Chamber of Commerce
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Dues paid the chamber of commerce are deductible if it is conducted to advance the business interests of its membership. It is deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
Dues - Booster Club
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Dues paid a community booster club conducted for the purpose to attract tourists and settlers to the locality where the members do business are deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
Dues - Securities Dealer
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
The dues you pay the stock exchange as a securities dealer are deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% limitation.