can work tools be a tax deduction?
my husband just started a new job in may but we're trying to organize & itemize tax deductions for next year... especially with the crappy economy. he was given an itemized list of tools to buy - about $2,000 worth for an avionics/aircraft electrician job. he also had to buy $200 steel toed/osha approved boots. can we save these receipts for next year??
Asked By: Starbucks Love - 7/15/2008
Best Answer - Chosen by Asker
Yes, you can attempt to write off these expenses subject to the 2% limit of Adjusted Gross Income. Do a search on www.irs.gov for unreimbursed employee expenses for more information.
Answered By: Steve - 7/15/2008
Additional Answers (5)
yes you can as they are work related
Answered By: golferwhoworks - 7/15/2008
1. Save the list he was required to buy. 2. Save all receipts. 3. Document which items have a useful life of one year or more. Note, you depreciate the tools, they are reduced by 2% of your AGI, only help your taxes if you can itemize, etc.
Answered By: v b - 7/15/2008
Yes you can. You can deduct any number of things. I did my taxes using Tax Cut this year and it had pages on stuff I never knew i could claim. Down to pants for work, transportation costs and even down to shoes and goggles. If these deductions are more than your standard deduction, then definitely keep track of... More
Answered By: nerdtron08 - 7/15/2008
Yes those are tax deductions. But to get any benefit you have to itemize, and you can only deduct the amount that's over 2% of your adjusted gross income.
Answered By: Judy - 7/15/2008
It is my understanding that in order to deduct expenses for tools, that you must be an indempendent contractor. You know this because your employer gives you a Misc.-1099 at the end of the year. Your husband would be resonsible for his own taxes. To deduct any type of clothing, it should be clothing that normally would... More
Answered By: LLCOOLES - 7/15/2008
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