Employee Expenses
1

Tax Reform Update: Most of the miscellaneous itemized deductions you may have claimed in the past have been suspended under the new law. These deductions include:

  • Unreimbursed employee expenses (travel expenses, dues/licenses, tools/supplies, education, etc.)
  • Expenses related to the collection of income (investment fees, safe deposit box rental, tax advice, etc.)
  • Tax preparation fees

Note for your state return. Not every state conforms directly with federal tax law, so you may be able to deduct employee expenses on your state return. If this is an option, you will be prompted with the appropriate questions during the state portion of the Q&A.