Some employees may be able to deduct certain work-related expenses. The following facts from the IRS can help you determine which expenses are deductible as an employee business expense. You must be itemizing deductions on IRS Schedule A to qualify.
Expenses that qualify for an itemized deduction generally include:
You must keep records to prove the business expenses you deduct. For general information on recordkeeping, see IRS Publication 552, Recordkeeping for Individuals available on the IRS website at www.irs.gov, or by calling 1-800-TAX-FORM (800-829-3676).
If your employer reimburses you under an accountable plan, you should not include the payments in your gross income, and you may not deduct any of the reimbursed amounts.
An accountable plan must meet three requirements:
If the plan under which you are reimbursed by your employer is non-accountable, the payments you receive should be included in the wages shown on your Form W-2. You must report the income and itemize your deductions to deduct these expenses.
Generally, you report unreimbursed expenses on IRS Form 2106 or IRS Form 2106-EZ and attach it to Form 1040. Deductible expenses are then reported on IRS Schedule A, as a miscellaneous itemized deduction subject to a rule that limits your employee business expenses deduction to the amount that exceeds 2 percent of your adjusted gross income.
Form 1040, Schedule A and Form 2106 are included in TaxACT Free Federal and Deluxe Editions. TaxACT helps you determine your business expense deduction, and walks you through hundreds of other credits and deductions. Your maximum refund and an accurate return are guaranteed. Start your tax return risk-free now.
November 2 — Social security, Medicare, and withheld income tax.
File Form 941 for the third quarter of 2015. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until November 10 to file the return.
November 2 — Certain small employers
Deposit any undeposited tax if your tax liability is $2,500 or more for 2015 but less than $2,500 for the third quarter.
November 2 — Federal unemployment tax
Deposit the tax owed through September if more than $500.
November 2 — Form 720 taxes.
File Form 720 for the third quarter of 2015.
November 2 — Wagering tax
File Form 730 and pay the tax on wagers accepted during September.
November 2 — Heavy highway vehicle tax
File Form 2290 and pay the tax for vehicles first used in September.
November 10 — Employees who work for tips
If you received $20 or more in tips during October, report them to your employer - Details
November 10 — Social security, Medicare, and withheld income tax.
File Form 941 for the third quarter of 2015. This due date applies only if you deposited the tax for the quarter timely, properly, and in full.
November 11 — Everyone
Federal Holiday (Veterans Day) - Details
November 12 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the first 15 days of October.
November 13 — Regular method taxes
Deposit the tax for the last 16 days of October.
November 16 — Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in October. Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in October.
November 25 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the last 16 days of October.
November 27 — Everyone
Federal Holiday (Thanksgiving Day) - Details
November 27 — Regular method taxes
Deposit the tax for the first 15 days of November.
November 30 — Wagering tax
File Form 730 and pay the tax on wagers accepted during October.
November 30 — Heavy highway vehicle use tax
File Form 2290 and pay the tax for vehicles first used in October.