Tax Tips: Reduce Taxes With Miscellaneous Deductions

 

If you itemize your tax deductions on your tax return, you may be able to deduct certain miscellaneous expenses.

Here’s what the IRS says:

You can deduct most miscellaneous expenses only if they exceed two percent of your adjusted gross income. These include expenses such as:

 Unreimbursed employee expenses.
 Expenses related to searching for a new job in the same profession.
 Certain work clothes and uniforms.
 Tools needed for your job.
 Work-related travel and transportation.

To find out more about deduction rules, speak with your tax professional or review IRS Publication 529, “Miscellaneous Deductions” at IRS.gov.

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