Who is more likely to get a lower refund this tax season?



[ad_1]

According to Allec, the third largest group of people likely to be hit harder is many unreimbursed work expenses: uniforms, equipment, travel and vehicle expenses, including mileage, for example.

"As a general rule, people with detailed deductions such as national and local taxes and unreimbursed business expenses will be more likely to be subject to smaller refunds or amounts owed," Kleiman said.

Under the old rules, you could deduct employee expenses in excess of 2% of your adjusted gross income, Allec adds. For example, if you earn $ 50,000 and incur $ 5,000 in outstanding employee expenses, you can deduct $ 4,000 from this expense.

"Such a high amount of unreimbursed staff costs may seem alien to people in office positions from 9 am to 5 pm, but there are several professions where the payment of a significant amount of expenses is the rule more than the exception: the For example, based vendors who have to vinify and dine potential customers at their own price, as well as long distance truck drivers, "says Allec.

[ad_2]
Source link