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besides the typical CPA or Attorney, what other professions are considered "professional" for tax deduction purposes? I learned that realtors can deduct alot ! I recently became a notary public, so I was wondering if that was eligible for deductions too...travel expenses etc

2007-09-26 13:48:08 · 3 answers · asked by Lisa 1 in Business & Finance Taxes United States

ok now I get it ! so I dont have to be a "white collar" professional or own a business to get itemized deduction for travel, food, gas, etc.

2007-09-27 05:17:44 · update #1

3 answers

There is no definition of "professional" as far as tax liability is concerned. If you do anything for remuneration, you're a "professional" as far as the IRS is concerned. Plumber, prostitute, or pediatrician, it's all taxable income and any reasonable and necessary business expenses in the production of income are allowable deductions.

2007-09-26 14:20:23 · answer #1 · answered by Bostonian In MO 7 · 1 0

Not sure what you are referring to when you mention "professionals" - there aren't special tax deductions for people in professional capacities.

As a notary public, things like annual fees, or the cost of your seal, would be deductible. I'm not sure just what kind of travel expenses you'd have as a notary - if you go to visit Aunt Minnie and notarize something for her while you are there, no. For notaries I've known, people come to them. If for example you travel 50 miles each way to notarize something for someone for $8, then the IRS would not be too impressed with your claim for mileage deductions far in excess of the income from the trip.

2007-09-26 15:15:26 · answer #2 · answered by Judy 7 · 0 0

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2016-04-06 02:52:45 · answer #3 · answered by Anonymous · 0 0

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