How to Keep Track of Deductible Job Expenses?

Answer Proper use of tax deductions can substantially lower your yearly tax bill. Job expense deductions are available to employees and self-employed persons, but if you do not keep track of your expenses... Read More »

Top Q&A For: How to Keep Track of Deductible Job Expenses

Are IRS audit expenses deductible as miscellaneous expenses?

Any legal fees for tax advice, any tax advice fees and any tax preparation fees are miscellenous deductions. These fees are subject to a 2 percent of adjusted gross income limit. Taxpayers can dedu... Read More »

Are health expenses tax deductible?

Only qualified health expenses are deductible and only if you itemize your deductions. Qualified health expenses must be not be reimbursed and can include health insurance costs, preventative care,... Read More »

Are IRA start-up expenses tax deductible?

IRA start-up expenses are deductible as a miscellaneous investment expense on Schedule A of your tax return. However, if the start-up expense is billed directly to your IRA account, then it is not ... Read More »

Are school expenses tax deductible?

The Internal Revenue Service allows you to deduct the cost of attending higher educational institutions such as colleges, universities and vocational schools. The IRS also offers a number of tax cr... Read More »