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Question

Submitted 345 days ago...

wowtoys

wowtoys

New User (1)

Commission employee on w2

I am a commission employee but get a w2 based on commissions only what can i deduct

 
 
 
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Answer 1 / 5

Submitted 345 days ago...

Ruchele

Ruchele

Brain (3,118)

Miscellaneous Job Costs. These expenses are for the employed individual who has unreimbursed expenses that were incurred for the benefit of their employer. The total amount of the expenses are subject to the 2% Adjusted Gross Income floor. This floor is put in place to disallow many frivolous expenses, according to the IRS.

Professional and association dues
Work clothes expense (includes safety helmets, safety shoes, uniforms, etc.)
Employment agency fees (“headhunter fees”)
Tax preparation and advice fees
Employee home office expenses
Work related educational costs (including tuition)
Tools
Travel, entertainment, lodging, and meals on overnight trips (business related)
Casualty losses and charitable property contribution appraisal fees
Parking fees and tolls
Automobile expense
Dues and subscriptions
Job-hunting expenses (in the same line of work only). Does not apply to first job seekers.
Local transportation to clients (including taxi fares)
If your employer gave you a mileage allowance during 2007 that exceeded $.445 per mile, the excess will be considered taxable income (wages) on your tax return.

 

Answer 2 / 5

Submitted 330 days ago...

forc2582

forc2582

New User (5)

Get Turbo TAX it will walk you right through it. Plus they give tax advice if needed. basically you are looking for the non reinbursed business deductions section on the fed tax form--Tiurbo Tax has a specific section questions and answers---you do not need an accountant unless you have extreem financial investment holdings

 

Answer 3 / 5

Submitted 164 days ago...

Fakery

Fakery

Brain (2,476)

Yeah, try and use turbo tax and it will tell you what you can deduct.

but if you are a w-2 employee, chances are you won't be able to deduct as much as if you were a full commission.

 

Answer 4 / 5

Submitted 141 days ago...

sidelko

sidelko

Brain (3,031)

If you are w-2 they should pull your taxes out already. so you don't need to do anything special

 

Answer 5 / 5

Submitted 8 days ago...

SpringTime

SpringTime

Authority (288)

Just the standard taxes like everyone else. you are an employee so you can't claim any self employed deductions

 
 

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