Whether youre on the job or looking for one, its easy to rack up a hefty tab of related expenses. (Toner isnt cheap!) If your company wont reimburse you, dont just swallow the costs. Some expenses can be written off come tax time next year. According to the IRS, you can deduct certain expenses to the extent that they exceed 2 percent of your adjusted gross income. So whether youre cabbing it to an after-hours work function or schmoozing a potential client over drinks, be sure to save those receipts. Youll need them come April.
JOB HUNTING
job hunting, tax rebate, irs, resume, job search, work expenses, saving money, how to save money
job hunting, irs, tax rebate
Looking for a new job can become a costly affairyou may end up spending hundreds for a new suit, resume service, and travel costs to get to an interview. Even if you dont land the job, some of those expenses can be deducted, says the IRS. The only catch: you have to be looking in the same career field as your current or recent job (sorry, college grads this doesnt apply to first-timers). Visit the
IRS\' web page for more info.
YOU WEAR A UNIFORM TO WORK
uniform, work expenses, saving money, how to save money
work uniform
If the dress code at your workplace calls for business casual, you cant get away with writing off the Theory pantsuit you just snapped up from Saks. But, if your office demands that you only wear a specific item thats not suitable to be worn outside of work, then you can comp the costs. If you are required to wear a uniform to workyoure an an airline attendant or Best Buy salespersonthis rule may save you some serious cash.\r\n
YOU TAKE TAXIS TO WORK FUNCTIONS
taxis, work expenses, saving money, how to save money
taxis to work functions
If your boss wants you attend \r\na conference across town, \r\ndont swallow the marginal costs youll rack up for the eventlike dry cleaning or a cab rides to and from. Always save the receipts, and even make a note on them as to which event they correspond to. \r\n
ARE CLIENT DINNERS ON YOU?
work expenses, saving money, how to save money
client dinners
Even if your job hasnt bestowed on you a corporate card (the holy grail of business perks) you arent responsible for bills related to wining and dining clients after hours. Submit the bill for reimbursement to the firm or as business expenses at tax timebut not both. \r\n
WORK FROM HOME, SAVE AT HOME
work form home, save at home, work expenses, saving money, how to save money
work form home, save at home
According to the IRS, if you telecommute there could be some savings in it for you. In \r\norder to claim expenses for your home office, the space must be used regularly and exclusively as the principal location of your job, or where you meet with clients. Writing up patient charts in bed doesnt count.
DONT EXPENSE YOUR STANDARD COMMUTING COSTS
work expenses, saving money, how to save money
standard commuting costs
Dont even try it. You arent the CEO (yet), so you cant order up your own car service and expect the company to foot the bill. How you get to work is 100% your responsibility. Ask your HR manager about company benefits which may subsidize your commuting costs. Many offer employees ways to save on mass transit or parking passes.
DONT EXPENSE DINNER WITH FRIENDS
work expenses, saving money, how to save money
don\'t expense dinner with friends
Sure, it was okay to send in the receipt when its strictly business. But posting the tab to your boss when its a girls night out is never okay. In fact, its a friable offense. Trust usexplaining a $300 bar tab for two isnt a position you want to be in. \r\n
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