If you paid for work-related expenses out of your own pocket, you may be able to deduct those costs. In most cases, you claim allowable expenses on Schedule A, Itemized Deductions. Here are five tax tips that you should know about this deduction.
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With easy Internet access, more and more people are working in home-based businesses and having an office in their home. Having a home office can provide deductions on your tax return, but can also create headaches when you decide to sell your home.
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Unreimbursed employee business expenses are allowed as a miscellaneous itemized deduction. The expenses must be ordinary and necessary. An expense is ordinary if it is common and accepted in your type of business. An expense is necessary if it is appropriate and helpful to your business. When filing on your own without the hep of a tax professional, you may miss out on deductions you can take. Here are just a few ways businesses can save.
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