In the past, employees were able to deduct as an itemized expense certain unreimbursed work-related expenses, such as vehicle expenses, travel and transportation, meals and entertainment, and work-related education or even tools if it was necessary for work. For tax years 2018-2025, these deductions are no longer available.
For most tax filers, the increased standard deduction will more than offset the loss of this deduction. However, for those of you who have claimed large amounts of unreimbursed employee business expenses on prior tax returns, you may see a higher tax liability because of this change.
Give us a call if you feel this will somehow affect you. We will help you see what that impact might be and what you can do about it.
Thank you for doing business with us.
101 W. 5th Street
Jamestown, NY 14701