Workplace Tax Deductions

Chances are your career brings some tax deductions that you didn’t even know about!  Of course, with the new December 2017 tax law, it makes sense for most people to stick with the standard deduction than itemize each year.  But if you find yourself in the group of taxpayers for whom those itemized deductions are higher than the standard deduction, here are some workplace deductions that you can claim!

If you are self employed, the number of work deductions available are generally higher.  Some examples of these savings include your home office costs, car for business, and health insurance.  Included in health insurance are premiums paid on medical and dental insurance.

If you pay dues to a professional society as a result of your career, those can be deducted.  Union dues and expenses are also available for deduction.  The portions that are paid towards benefits or pension funds are not deductible.

Travel costs can also be deducted including mileage from your your place of employment to another work site.  These deductions are most common in careers such as sales, midwifery, residential service providers and the like.  Among the available travel type deductions are the cost of a passport if needed for a business trip and parking garage fees.

Work clothes, or uniforms, are one of the most common employment related deductions.  These can be taken when the uniform is required for your job and it is not suitable for wear in situations outside of your workplace.

Teachers from grade K to 12 who work 900+ hours a school year, can deduct up to $250 for expenses that are not reimbursed.  These expenses could include books, supplies, and computer equipment. Save those receipts!

As usual, we turn you over to the IRS or your tax preparer for more in depth info if needed on this topic.  The IRS has a comprehensive list with links to numerous different industries and their tax considerations.  Our office is open for questions as well as you plan for this tax season or the future!