Employee Business Expenses – Killer IRS Deduction Help
Employee Business Expenses – Employee / Employer
If your employer has an accountable plan, you will be able to receive all your allowable deductions. You have to report any employee business expenses and documents to your employer, including the amounts that exceed your employee business expenses or the amounts your employer still owes you.Your employer will subtract the reimbursements from your taxable income and you do not have to pay taxes for the reimbursements!You are entitled to claim an above the line deduction for your non-reimbursed employee business expenses, paid or incurred under non-accountable plans.In this case, the non-reimbursed expenses are deductible only as itemized deduction subject to the 2 percent floor.