A commonly missed deduction is the not reimbursed employee business expense. Anything that is required by your job that you have to pay for and don't get reimbursed for is tax deductible. There are more things in this category than you might think that could be deductible. The most common are transportation, travel, and meals and entertainment. But there are many more. Here is a list of 7 employee business expenses you are probably missing on your taxes.
Vehicle Expense. If you have to use you own vehicle for anything other than going to and from work, you can deduct the mileage. Some examples of this are running errands for your boss, going to job sites and driving to seminars. Also, if you have two jobs and you drive from one job to the other, those miles are tax deductible.
Travel Expense. Some jobs require the employee to travel out of town. Most employers reimburse travel expense but if not you can deduct travel such as airfare, hotels. Taxi fare, meals, and a passport.
Meals and Entertainment. If it is ordinary for your type of business to take clients to lunch or dinner, play golf, or provide them with entertainment, then it is deductible. This is a touchy deduction because it can be misused and the IRS looks closely at it in an audit. But there are a lot of businesses where meals and entertainment is a common even a necessary expense.
Safety Equipment. Tools and supplies that you pay for are deductible.
Uniforms. Clothing required by your employer that is not suitable for ordinary wear. If the uniform has a logo on it or is special clothing such as scrubs in a medical office it is deductible. But it you could wear it to the store or to a movie or somewhere like that it is not deductible. To give you an example, I had a client who had a job selling nail polish. She did demonstrations to large groups of business owners. She was required to wear black clothing. She got audited and even thought she didn't like black and didn't wear the clothing anywhere else, the IRS disallowed the deduction because it was normal clothing that she could have worn anywhere.
Protective Clothing. This is different than uniforms. It includes hard hats, safety glasses, gloves, coveralls, safety shoes, etc. Any clothing that protects you from harm other than your normal clothing is considered protective clothing.
Monday, January 27, 2014
Thursday, January 16, 2014
Using Certify and you won’t Struggle Anymore
There are no good reasons for entering and processing your expense reports manually. Such a process wastes the valuable time of your accountants, you’re traveling employees, and may even cost your business funds through mistakenly reimbursed expenses that violate policy. Even if you've been using Excel for years, and have come to rely on it, the time has come to switch to cloud-based expense reporting software. Definitely one of the best of today's era is making all things in simple and in the easy way such as travelling for the different ventures and how will you help out your employee or yourself from the stressed that in works in them. Changing up your reporting is the best move that you can change the entire reporting of the business travel and expense management software is the best option that you can make your the business.
If you're worried that switching from manual entry to a digital solution will give your office trouble, then you can dispel that worry: Certify can be easily implemented into any office setting. Better yet, our team offers a number of services that can get your workers up to speed and using our software like experts in a matter of days. It may have taken you years to get into the groove of your current expense reporting solution, but getting used to Certify will only take a few short hours.
A full team of Certify advisory will help you to implement the system into your office. Typical implementations take less than four weeks, and consist of implementing the service, configuring it, linking the product to your company's expense policy, training your users, testing the product and much more. One system analyst, working at a company with over 300 employees, testified that Certify was installed by their organization in less than a month. You can even try Certify yourself with self-service software. Try Certify now on our website, and you'll be offered a 30-day free trial that will allow you to experience the benefits on your own terms. You'll even gain access to the Certify online support center, which contains many question-and-answer and training videos.
Monday, January 6, 2014
What is your plan in your Business for 2014?
A lot of us wishing for the best in the upcoming New Year especially in the world of the business that we can more have the best in the start of the year. Making your business in the start of the year is the best thing that you need in your list as the year starts in you. When it comes to business all you want is the best on how to make it grow more n the upcoming years and also how to maintain the state of your business in the market.
This year maybe it is the time for your business try for the something new on how to make out your business in the way. Make your business try something new to make a big difference in the entire opportunity for the business that you have. Today most of the businesses find an alternative way in making every business in the state that they can make it on the top of the business. The best to make out with your business is making the cloud be part of your business yes using the cloud is one of the best way to make your new year start with a new in making all your expense reports easier and faster. This is one of the best way most of the business to have a one step ahead in every businesses.
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