Often times when people consider itemizing it is for the three big deductions; home mortgage interest, state and local taxes and charitable donations. Although there are numerous more deductions in addition to the big three. These types of deductions are generally considered miscellaneous itemized deductions and are claimable if they exceed 2% of your adjusted gross income.
Unreimbursed job expenses are one cost that can be deducted that can help save you money at tax time.
Things you may have paid for but are deductible are;
- The cost of business trips; including meals, entertainment and travel expenses.
- Insurance coverage for your business including liability coverage.
- Devices required for work such as computer equipment and cell phones.
- Work related membership dues for organizations.
- Due paid to occupational societies related to your field of work.
- Training and education costs.
- Expenses for home offices for normal use.
- Job seeking expenses if you are seeking the same line of work.
- Any legal fees incurred through work.
- Malpractice insurance fees.
- Passport expenses if you travel internationally for work.
- Trade Magazine subscriptions for your occupation.
- Supplies and tools.
- Union dues
- Uniforms if they are required.
If you paid for any of these expenses and were not reimbursed by your employer you may be able to deduct them by claiming a miscellaneous itemized deduction on your tax return. All of these expenses need to be directly related to your work and need to be for reasonable amounts. They should be expenses that are necessary for your job and ordinary purchases.
