Employee Business Expense

Musician - formal wear

Asked Wednesday, December 20, 2000 by an anonymous user

CPA 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.
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Employee Business Expense

Mechanic - steal tipped safety shoes

Asked Wednesday, December 20, 2000 by an anonymous user

CPA 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.
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Employee Business Expense

Employment Agency costs

Asked Wednesday, December 20, 2000 by an anonymous user

CPA 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.
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Employee Business Expense

Politician - out of pocket expenses

Asked Wednesday, December 20, 2000 by an anonymous user

CPA 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.
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College Planning & Financial Aid

Can I deduct the amounts I pay for Law School ?

Asked Wednesday, December 20, 2000 by an anonymous user

CPA Answer:

No. The IRS does not allow a deduction for law school because they consider the costs of law school to qualify the student for a new profession.
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Educational Tax Benefits

As an attorney , can I deduct the costs of a master's law degree program ( LLM ) ?

Asked Wednesday, December 20, 2000 by an anonymous user

CPA Answer:

Generally yes. As an attorney you can deduct the costs of a master's degree program (LLM), if you are a practicing attorney at the time of the master's course.
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Educational Tax Benefits

As a doctor, Refresher courses - deductible ?

Asked Wednesday, December 20, 2000 by an anonymous user

CPA Answer:

Yes. As a doctor or nurse you may deduct the cost of refresher courses. The IRS feels these courses are required to maintain or improve your job skills.
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Employee Business Expense

Refresher courses - Transportation

Asked Wednesday, December 20, 2000 by an anonymous user

CPA 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.
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Employee Business Expense

Stockholder meeting

Asked Wednesday, December 20, 2000 by an anonymous user

CPA Answer:

Trips to attend a stockholder meeting are not deductible. In rare situations when a majority stockholder attended a meeting to present a resolution, he was allowed a deduction.
Most stockholders who attend meetings to pick up information for future investment decisions are not allowed a deduction.
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Casualty Losses

Casualty loss- Appraiser fees

Asked Wednesday, December 20, 2000 by an anonymous user

CPA Answer:

Yes. Amounts you paid to an appraiser for determining your casualty loss are deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
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