Can you claim "Employee Business Expenses"?

If you are an employee and you are worried this year or any tax year that you might owe money you may have some tax deductions you didn’t think about.  Many employees have “Employee Business Expenses”.  Expenses you incurred for the purpose of working for your employer that was not reimbursed by your employer can be eligible. 

Examples of these expenses are:

1.              Business Travel Away from home

2.              Business use of your own personal vehicle

3.              Business meals and entertainment

4.              Business use of your home

5.              Education/Training

6.              Business supplies you purchase

7.              Business tools you purchase

Now if your employer reimburses you for these expenses you cannot claim them on your return.  IRS publication 552 will give you more details on what can and cannot be claimed.  It is your responsibility to keep accurate records of these expenses in the event of an audit. 

Lastly, only the amount of the expenses that are in excess of 2% of your adjusted gross income can be deducted and are still subject to the standard deduction. 

Call your Tax Accountant or preparer if you have any questions.

Tami Highbaugh-Abdullah

Highbaugh Tax 

317.345.4182