1. Unreimbursed Business Expenses: For Employees Who Travel or Work from Home
Tax Deductions: What You Need to Know
Many employees do not realize they can deduct certain business-related expenses even if their employer doesn’t reimburse them. You might be eligible for deductions if you travel for work or use your phone and internet for business. Know More From IRS Official Tax Guide on Employee Business Expenses
Examples:
- Travel Expenses: If you are a salesperson and pay for your airfare, lodging, and meals, those expenses could be deductible.
- Home Office: Farther laborers may deduct a portion of their home’s utilities, lease, and web usage if the space is used only for work.
Know More if you are undergoing – Small Business Administration Tax Deductions
Tip: Always track and document your business expenses to ensure you can claim them at tax time.
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