Daily Archives April 29, 2017

Deducting Employee Business Expenses

If you pay for work-related expenses, you may be able to deduct them. Generally, employee business expenses are deductible if they are more than two percent of adjusted gross income. In most cases, they go on IRS Schedule A, Itemized Deductions. Employee business expenses must be ordinary and necessary to your work in order to be deductible. An ordinary expense is one that is common and accepted in your industry. A necessary expense is appropriate and helpful to your business. Some examples of deductible employee business expenses are: Required work clothes or uniforms not appropriate for everyday use. Supplies and
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