Small Business
The most frequently asked tax questions related to Small Business
Trade association costs
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Amounts you pay your trade association are deductible if the trade association is conducted for the purpose of furthering the business interests of its members.
The amount is deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
The amount is deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
Refresher courses - Transportation
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
If you are allowed a deduction for courses that maintain or improve your job skills and do not qulaify you for a new profession then the costs of local transportation and travel away from home are deductible.
Report these costs as an itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
Report these costs as an itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
Politician - out of pocket expenses
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Elected officials who incur out of pocket expenses in excess of any allowances received from the government may deduct as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% limitation.
Examples of out of pocket political expenses are office rent, salaries, supplies.
Examples of out of pocket political expenses are office rent, salaries, supplies.
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.
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 - Unemployment benefit fund payments
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
No. Voluntary payments to a union unemployment benefit fund 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.