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I know that gas, office supplies and office equipment are tax deductible for your job. If you know of anything else please let me know. And how long do you need to save all of your recepits in case you are audited.

2007-12-07 16:47:59 · 5 answers · asked by skins.fan26 2 in Business & Finance Taxes United States

5 answers

You have gotten some very wrong answers here.

Clothing is only deductible if it's not suitable for ordinary wear - say a uniform with the company name on the back. The fact that you might not wear that type of clothing, maybe a suit, outside of work does NOT make it tax deductible.

Food is only deductible under fairly narrow circumstances, and then only at 50%. Your regular lunches during your work day are not deductible. For the person who says their mom claims them, it isn't a legal deduction even though she is self-employed, and eventually the IRS will catch up to her for her illegal deductions and she'll be paying back a lot of tax money.

You say "for your job" - are you an employee, or self-employed? If you're an employee, you can only deduct unreimbursed business expenses that are over 2% of your adjusted gross income. If you are self employed though, you can deduct all legit expenses from the first dollar.

2007-12-08 02:33:55 · answer #1 · answered by Judy 7 · 0 0

For everyday work purposes I seriously doubt it. Maybe if you were buying clothes or food for a personal business and then selling it but for just wearing to work no. Same goes for food. You can't deduct your lunches unless its considered a business meeting.

I do know that if you donate clothing to goodwill you can ask for a receipt and this can be used toward your tax return.

I would keep all receipts for at least a year.

2007-12-07 16:58:54 · answer #2 · answered by Anonymous · 0 0

50% of LEGITIMATE meals are deductible (say out of town trip, spent overnight in a hotel). So is customer entertainment, but each receipt must show the business purpose and the client who was present. Claiming lunch because it was during business hours doesn't count.

As for clothes, steel tipped safety shows can be deductible, stage costumes and specialized wear are deductible. Suits are not; jeans are not; anything you'd be willing to wear in public, no.

As for saving valid receipts--7 LONG years.

2007-12-07 18:20:16 · answer #3 · answered by Anonymous · 0 0

Only clothing that is required for your job, or food eaten as part of your business (i.e. entertaining clients, out of town trips, etc.).

It depends what your job is. As an actor I can deduct certain purchases, movie rentals, etc. Talk to a tax professional.

Oh, don't forget the mileage deduction for business travel.

2007-12-07 16:56:39 · answer #4 · answered by Anonymous · 1 0

when my mom (who is self employed) counts everything possible, all food she eats while working is a "business lunch"

if you work in an office, and have to wear a suit, count that as a "business uniform"

2007-12-07 16:58:03 · answer #5 · answered by lemon 1 · 0 3

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