Miscellaneous itemized deductions easy to forget, can add up to major savings
March 20, 2009
- Fort McPherson
- Tax Center
Miscellaneous itemized deductions are often the most difficult to remember at tax time.
In most cases, only the miscellaneous deductions that exceed 2 percent of the adjusted gross income are deductible.
Did you incur any of the following expenses in 2008'
1: Dues to chambers of commerce, professional societies and unions
3: Job search expenses in your present occupation
4: Legal fees related to doing or keeping your job and protecting or collecting taxable income
5: Malpractice insurance premiums
6: Medical examinations re-quired by an employer
7: A passport for a business trip
8: Subscriptions to professional journals and trade magazines related to your work
9: Tools, supplies and safety equipment used in your work
10: Work clothes and uniforms and their upkeep cost
11: Tax preparation fees
12: A safe-deposit box
If you incurred any of these expenses, notify your tax professional so he or she can determine if they are deductible. One you get past the 2 percent limit, these deductions can really add up!