Tax Topic 6 - Job Related Tax Deductions

In this topic you will cover which expenses are subject to the 2% limit and which expenses are not. You will also learn which expenses you cannot deduct and how to report the expenses that are deductible. For example, some of the expenses that are deductible are unreimbursed employee expenses that are incurred during the year and that are ordinary and necessary. You may be able to deduct the the ordinary and necessary business-related expenses you have for travel, entertainment, gifts, or expenses for transportation.  An expense does not have to be required to be considered necessary. This topic will cover what expenses are deductible and how to report them on a tax return. In addition you will become aware of which records you need to prove your deduction and what to do with reimbursements.

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