What would you like to do?

What is list of expenses that can be itemized on your income taxes?

already exists.

Would you like to merge this question into it?

already exists as an alternateof this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

1. Accounting fees for tax preparation services and IRS audits

2. Alcoholism and drug abuse treatment

3. Amortization of premium on taxable bonds

4. Appraisal fees for charitable donations or casualty losses

5. Appreciation on property donated to a charity

6. Casualty or theft losses

7. Cellular telephones - more on this here.

8. Cleaning and laundering services when traveling

9. Commissions and closing costs on sale of property

10. Contact lenses, eyeglasses, and hearing devices

11. Contraceptives, if bought with a prescription

12. Costs associated with looking for a new job in your present occupation, including fees for résumé preparation and employment of outplacement angencies

13. Depreciation of home computers

14. Dues to labor unions

15. Education expenses to the extent required by law or your employer or needed to maintain or improve your skills

16. Employee contributions to a state disability fund

17. Employee's moving expenses

18. Federal state tax on income with respect to a decedent

19. Fees for a safe-deposit box to hold investments (e. g., stock certificate)

20. Fees paid for childbirth preparation classes if instruction relates to obstetrical care

21. 50% of self-employment tax

22. Foreign taxes paid

23. Foster child care expenditures

24. Gambling losses to the extent of gambling winnings

25. Hospital services fees (laboratory work, therapy, nursing services, and surgery)

26. Impairment-related work expenses for a disabled individual

27. Improvements to your home

28. Investment advisory fees

29. IRA trustee's administrative fees billed separately

30. Lead paint removal

31. Legal fees incurredin connection with obtaining or collecting alimony

32. Long-term care insurance premiums

33. Margin account interest expense

34. Medical transportation, including standard mileage deduction and lodging expenses incurred for medical reasons while away from home

35. Mortgage prepayment penalties and late fees

36. Out-of-pocket expenses relating to charitable activities, including the standard mileage deduction

37. Health insurance premiums is self-employed

38. Penalty on early withdrawal on savings

39. Personal liability insurance for wrongful acts as an employee

40. Points on a home mortgage and certain refinancings

41. Protective clothing required at work

42. Real estate taxes associated with the purchase or sale of property

43. Seller-paid points on th epurchase of a home

44. Special equipment for the disabled

45. Special schools and separately stated fees for medical care included in tuition

46. State personal property taxes on cars and boats

47. Subscriptions to professional journals

48. Theft or embezzlement losses

49. Trade or business tools with life of 1 year or less

50. Worthless stock or securities
4 peoplefound this useful
Thanks for the feedback!

How you compare unpaid income tax with income tax expense?

Answer . If I understand what you are asking, your question is in regards to C corporations or LLCs which have elected to be taxed as C corporations, and which use the accr

Why does a company report deferred income taxes as part of its total income tax expense?

  Answer   Under the matching and periodicity principles, expenses are matched to the income they produce within a period.   There are a number of differences betw

Can you claim medical expenses on income tax?

To claim medical expenses, you must itemize and it must be more than 7.5% of your AGI, which is a high threshold! But lots of things, including insurance premiums may be able

Is income tax an expense?

Yes. Depending on the specifics, it may or may not be a TAX DEDUCTIBLE expense, but it is most certainly an expense. (For example, your (or a Cos) state income tax is an expen

Can you itemize your jobs tools on income taxes?

Yes, if they are tools of little value say a circular saw then you would simply deduct its full cost for the year you bought it. If it was a very expensive item with a useful