Tag Archive: miscellaneous deductions

Look for tax savings in miscellaneous deductions

Written by January 19, 2015

Certain miscellaneous expenses you pay during the year may be tax-deductible. Examples include fees you pay for tax advice and employee expenses such as union dues, tools needed for your job, certain work clothes and uniforms, and work-related travel. If you itemize, these deductions could lower your tax bill. Most miscellaneous deductions can only be deducted if their total is...

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Miscellaneous Deductions can Reduce your Taxes

Written by August 8, 2013

If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses. You may benefit from this because a tax deduction normally reduces your federal income tax. Here are some things you should know about miscellaneous deductions: Deductions Subject to the Two Percent Limit. You can deduct most miscellaneous expenses only if they exceed two...

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