Tools for work- employee based
i am a mechanic that needs to buy a **** ton of tools for work but its not my company and i even own a tool box thats 11k. I probably spend 2 k a year on tools alone. Can you write it off or whats a good way to deduct them LEGALLY? Theres got to be a way to write them off.
Comments
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Hello,
Unfortunately, the Tax Cut and Jobs Act (TCJA) of 2017 removed the deduction for unreimbursed employee business expenses. You may be able to deduct tools according to your state tax laws, but employees cannot deduct work expenses on their federal return anymore.
You may want to talk with your employer about whether they have any reimbursement plans. Ideally since the passage of the TCJA, employers set up something called an accountable reimbursement plan so that the employee can get a tax free reimbursement for their work expenses. Under such plans, the employer can deduct the reimbursements they pay you but you do not claim the reimbursements as income.
The TCJA is set to expire for 2025 unless Congress acts to make it permanent.
Let me know if this answers your question.
Thanks for using FreeTaxUSA Community
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yeah just going to be honest here im lucky to get a paycheck from my company. They will not reimburse me
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Do they give you a W-2, or a 1099?
