KEY EXPENSES FOR SALES REPRESENTATIVES
A
AUTO TRAVEL
Your
auto expense is based on the number of qualified business miles you drive.
Expenses for travel between business locations or daily transportation expenses
in going between your residence and temporary work locations are deductible;
include them as business miles. Your trips between home and the office each day
or between home and one or more regular places of work are COMMUTING and are
NOT deductible.
Document
business miles in a record book as follows: (1) Give the date and business
purpose of each trip; (2) Note the place to which you traveled; (3) Record the
number of business miles; (4) Record your car’s odometer reading at both the
beginning and the end of the year. Keep receipts for all car operating
expenses-gas, oil, repairs, insurance, etc., and any reimbursement you received
for your expenses.
B
TRAVEL – OUT OF TOWN:
Expenses
of traveling away from “home” overnight on job-related and continuing-education
trips are deductible. Your “home” is generally considered to be the entire city
or general area where your principal place of employment is located.
Out-of-town expenses include transportation, meals, lodging, tips, and
miscellaneous items like laundry, valet, etc.
Document
away-from-home expenses by nothing the date, destination, and business purpose
of your trip. Record business miles if you drove to your out-of-town location.
In addition, keep a detailed record of your expenses-lodging, public
transportation, meals etc. Always list meals and lodging separately in your
records. Receipts must be retained for each lodging expense. However, if any
other business expense is less than $25, a receipt is not necessary if you
record all of the information in a diary. You should keep track of all the full
amount of meal and entertainment expenses even though only a portion of the
amount may be deductible.
C
CONTINUING EDUCATION:
Educational
expenses are deductible under either of two conditions: (1) Your employer
requires the education in order for you to keep your job or rate of pay; or (2)
The education maintains or improves your skills as a Sales Representative. Costs
of courses that are taken to meet the minimum requirements of a job or that
qualify you for a new trade or business are NOT deductible.
D
EQUIPMENT PURCHASES:
Record
separately from other supplies, the cost of business assets which are expected
to last longer than one year and cost more than $100. Normally, the costs of
such assets are recovers differently on your tax return than are other
recurring, everyday business expenses like business cards, office supplies,
etc.
E
SUPPLIES & EXPENSES
Generally,
to be deductible. Items must be ordinary and necessary to your business
profession and not reimbursable by your employer.
F
TELEPHONE EXPENSES:
The
basic local telephone service costs of the first telephone line provided in
your residence are not deductible. However, toll calls from that line are
deductible if the calls are business related. The costs (basic fee and toll
calls) of a second line in your home are also deductible, if used exclusively
for business.
G
PROFESSIONAL FEES & DUES:
Dues
paid to professional societies related to your profession are deductible.
However the cost of initial admission fees paid for memberships in certain
organizations or social clubs are considered capital expenses
H
MISCELLANEOUS EXPENSES:
Expenses
of looking for new employment in your present line of work are deductible – you
do not have to actually obtain a new job in order to deduct the expenses.
Out-of-town job seeking expenses are deductible only if the primary purpose of
the trip is job-seeking, not pursing personal activities.
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SUPPLIES & EXPENSES
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Advertising,
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Bank Charges
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Bookkeeping
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Business Meals (enter 100% of Expense)
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Business Cards
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Clerical Service
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Computer Software
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Computer Supplies
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Customer Lists
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Entertainment (enter 100% of Expense)
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Equipment Repair
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FAX Supplies
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Gifts
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Greeting Cards
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Legal & Professional Services
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Office Expenses
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Photocopy Expense
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Postage
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Rent
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Shipping
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Trade Publications & Map Book
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Other:
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PROFESSIONAL FEES & DUES
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Association Dues
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License
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Union Dues
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Other:
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MISCELLANEOUS EXPENSES
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Resume
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Liability insurance – Business
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Subscriptions
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Professional Subscriptions
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Other:
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TELEPHONE EXPENSES
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Cellular Toll Calls
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Fax Transmissions
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Paging Service
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Pay Phone
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Toll Calls
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Other:
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