Employment

Tax deductions for accountants

If you are an independent contractor or you are self-employed, you may be able to deduct job-related expenses from your taxable income.

Make sure you keep receipts to substantiate your expenses, which may include items such as:

Subscriptions to publications and journals related to your work
Dues for professional associations
Job-related equipment or supplies that you can replace within 1 year
State or local government regulatory fees, licenses, or flat-rate occupational taxes, as long as you didn’t pay these fees for your initial certification or licensing
Cost of renewing your license
Errors & Omissions insurance
Computer programs and annual updates
Cost of attending industry seminars
Cost of membership for professional organizations
Cost of continuing education to maintain your license

Want more information about what you may be able to deduct? We can help. A Jackson Hewitt Tax Pro can investigate all the deductions that you may be entitled to and will help you file a complete and accurate return. Taxes can be complicated, but you are not on your own. Contact us today.

^*This content is for general informational purposes only. It is not intended to be comprehensive and should not be construed as professional tax or financial advice for any specific individual tax situation. Taxpayers should always consult a qualified professional for individual guidance. This information constitutes a solicitation under the Treasury Department's Circular 230. Most offices are independently owned and operated.

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