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Deducting Job Expenses (102)
Author: Holmes F. Crouch
Pages: 224
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  • Summary

    DEDUCTING JOB EXPENSES (T/G 102) covers the self-discipline and determination needed for scrutinizing your W-2 and claiming travel, occupational, educational, and other expenditures incurred for the "convenience of your employer," including telecommuting office-at-home, and the purchase of computers and cellulars. Also covered:

    • Mastering Form 2106
    • Employer reimbursement policies
    • Categories for "expense charting"
    • Business use of autos & vans
    • What is depreciable & not
    • Meeting the "adequate records" test

    Table of Contents
    Deducting Job Expenses
    Book: 102
    Table of Content
    
    1.  DEDUCTIONS OVERVIEW                         1-1
    
        Tax Home Defined                            1-2
        Commuting Is Personal                       1-3
        Travel Is “Away Overnight”                  1-5
        Separate Tax Homes of Spouses               1-7
        Memorize These 4 Sections                   1-8
        Must Be “Ordinary and Necessary”            1-10
        The Forms Brigade                           1-11
        Temporary Job Assignments                   1-13
        Beware of Section 274 (d)                   1-15
    
    2.  SCRUTINIZING FORM W-2                       2-1
    
        The 64-Page Mandate                         2-2
        Taxing of Fringe Benefits                   2-3
        Overview of Form W-2                        2-5
        Box 1: Other Compensation                   2-7
        Box 12: Benefits Included                   2-9
        Separate Statement or Multiple W-2s         2-10
        Box 13: See Instructions                    2-11
        Correlation of Boxes 1, 12, 13, and 14      2-12
        “Everything” NOT on Your W-2                2-13
    
    3.  OCCUPATIONAL EXPENSES                       3-1
    
        Designate “Occupation” With Care            3-2
        Miscellaneous Deductions Role               3-3
        “Income” Defined by Reg. 1.212-1            3-4
        Job Hunting Expenses                        3-5
        Certain Educational Expenses                3-7
        Example Court Rulings                       3-8
        Union Dues & Publications                   3-10
        Work Tools & Safety Items                   3-11
        Uniforms & Maintenance                      3-13
        Seminars and Conventions                    3-15
    
    4.  TRADE OR BUSINESS EXPENSES                  4-1
    
        “Trade or Business” Defined                 4-2
        Overview of Section 162                     4-3
        Regulation 1.162-1: For Starters            4-5
        Tools, Supplies, Et Cetera                  4-6
        Computers and Cellulars                     4-9
        Certain Deductions Limited                  4-10
        Other Listed Property Items                 4-11
        Gifts & Promotional Items                   4-13
        Attendance at Conventions                   4-14
        Active Discussions Meals                    4-16
        Entertainment: Tough Rules                  4-18
        Only 50% M & E Deductible                   4-21
        Local Business Destinations                 4-22
    
    5.  TRAVEL EXPENSES                             5-1 
    
        Section 162(a) Revisited                    5-2
        Segregated Travel Accounting                5-3
        The “Primary Purpose” Rule                  5-6
        Business/Personal Allocations               5-7
        Simple 8-Hour Example                       5-8
        10-Day Allocation Example                   5-9
        Two or More Destinations                    5-11
        Foreign Travel Accounting                   5-12
        The “Business Necessity” Test               5-14
        En Route “Allocation” Required              5-16
    
    6.  MOVING EXPENSES                             6-1
    
        At Least 50 Miles                           6-2
        For Commencement of Work                    6-4
        Time at New Location                        6-6
        “Moving Expenses” Defined                   6-8
        Use of Form 3903 or 3903-F                  6-9
        Reimbursement Precautions                   6-11
        Meaning of “Code P”                         6-13
        What If Excess Reimbursement?               6-14
    
    7.  BUSINESS USE OF AUTO                        7-1
    
        Classed as “Listed Property”                7-2
        Business Use Percentage                     7-3
        Log All Business Trips                      7-4
        Verifying Odometer Reading                  7-6
        Mileage Entries on Form 2106                7-8
        Most Expenses Qualify                       7-9
        Standard Mileage Rate                       7-10
        Limited Cost Recovery                       7-11
        Luxury Auto Leasing                         7-13
        Leased Auto “Inclusion Tables”              7-14
        Employer-Provided Autos                     7-17
    
    8.  BUSINESS USE OF HOME                        8-1
        
        Self-Motivated, Self-Doers Only             8-2
        Introduction to Section 280A ( c )          8-3
        Regular and Exclusive Use                   8-5
        Principal Place of Business                 8-6
        Much To-Do About Soliman                    8-7
        The One Sensible Opinion                    8-10
        Get Statement from Employer                 8-11
        Business use Percentage                     8-13
        List your Operating Expenses                8-16
        Depreciation of Home Structure              8-17
        
    9.  REIMBURSEMENT & RECORDS                     9-1
    
        Reimbursement Variations                    9-2
        Keep Separate Records                       9-3
        Expense Accounting to Employer              9-4
        The Regulatory Language                     9-6
        Federal Per Diem Allowance                  9-8
        Prepare for “Full Substantiation”           9-9
        “Adequate Records” Defined                  9-11
        Annotating and Cataloging                   9-12
        Separate Reimbursement File                 9-13
    
    10. MASTERING FORM 2106                         10-1
        
        Purpose of Form 2106                        10-2
        Start on Page 2: Vehicle Expenses           10-4
        Actual Expense Entry Items                  10-6
        Overview of Page 1/Part I                   10-8
        General Business Expenses (Line 4)          10-10
        The Reimbursement Quandary (Step 2)         10-11
        Allocating Your Reimbursements              10-13
        What if “Excess” Reimbursement?             10-15
        The Line 9, Column B Clincher               10-16
        The 50% M & E Law                           10-16
        Last Item on Form 2106                      10-18
    
    11. DEPRECIATION DEDUCTIONS                     11-1
    
        Recovery Classes: Employee Property         11-2
        MACRS Methods & Conventions                 11-4
        Now for “Listed Property”                   11-6
        The Section 179 Election                    11-9
        Introduction to Form 4562                   11-10
        Form 4562:Listed Property Portion           11-11
        Form 4562:The Section 179 Portion           11-12
        Form 4562:MACRS Portion                     11-15
        Office-in-Home Depreciation                 11-16
        Transference to Form 2106                   11-17
    
    12. SCHEDULE A (1040) WRAP-UP                   12-1
    
        Overall Role of Schedule A                  12-2
        Where Form 2106 Is Entered                  12-4
        The Lines After Form 2106                   12-6
        The 2% AGI Subtraction Law                  12-8
        Anticipate/Refine Your AGI                  12-9
        The “Standard Deduction” Threshold          12-10
        The 3% “Phase Out” Law                      12-12
        An AMT “Add Back”                           12-13
        A Cautious Prediction                       12-15

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