What can and cannot be claimed as work expenses on tax form?

Question

I’ve had friends do this, but I’m not sure the specifics... I’m starting a new position at the job I’m at that deals more with multimedia. However, the company doesn’t have all the equipment I need, so I’ll have to buy some. (I took this position knowing that, not like I got screwed over or anything). So I’m wondering if I can claim some items I buy on my tax return. I’m probably going to buy a high quality camera for videos and pictures ($400) and a laptop that can handle photo and video editing ($1200).
Can I claim these on my tax return? If so, how? And what kind of compensation would I receive from them?
If I can’t claim this, why not?
Is there anything special you have to do?
And would this be for state (Illinois) or federal taxes?

Thanks

Answer 1

It's not going to work.

First you have to show that they were necessary to your job.
Second, you have to show that you had to buy them and you used them only for your job.

Then you total these up. Let's say it's $1600.
Then you look at your income, let's say you make $20,000--you lose $400. Assuming you can claim all of it one year, you have $1200 left. Then you add up the rest of your itemized deductions and if the total is more than your standard deduction ($5350 in 2007), then and only then would you see a decrease in your taxes.

Answer 2

Most of the above answers are correct. The big question is whether or not you are a 1099 worker (self-employed) or a W-2 employee. As a 1099 - you would be able to deduct (actually depreciate) your entire expense but you would also be responsible for all of your own social security and medicare tax. Deducting all of this against your self employment income would reduce your adjusted gross income and that would, in effect, reduce your taxable income in Illinois as well. If you itemize and get to deduct these expenses as outlined above in previous answers, you receive no benefit in Illinois as Illinois does not use any federal deductions against income. You would only receive the federal tax savings. All of this, and your actual tax savings, will hinge on your total, adjusted gross income. Good luck

Answer 3

Deducting them would be on your federal taxes. Whether you get any deduction for them would depend on whether they're considered necessary for your job, and whether you use them only for your job or for other things also.

You can only deduct non-reimbursed employee business expenses if you itemize, and then can only deduct the amount that's over 2% of your income. If you don't itemize, you get no deduction.

As an example, assuming that the items qualify, that you are already itemizing, and that you make $50,000 a year, you would be able to claim an itemized deduction for them of $1600 - $1000 (2% of $50K) or $600. If you are in a 15% tax bracket that would save you $90 in taxes; if you're in a 25% bracket it would save $150 in taxes.

Answer 4

due to my locations, it has been many years since I paid state tax. but you can claim business expenses on your federal return. how you would claim them would depend if you are a W-2 employee or a 1099 employee.
1099 people are considered self employed and therefore you are open to many more deductions.
W-2 employees would complete the 2106 form in your taxes. You can pull this form on line with the IRS and follow it from there. as long as you are not reimbursed for the items and they do pertain to your business, you can write them off.