J.K. Lasser's 1001 Deductions and Tax Breaks 2023, 3rd Edition

CHAPTER 13Your Job

• Educator Expenses

  Prizes and Awards

  Performing Artists

  State or Local Government Officials Paid on a Fee Basis

  Repayment of Supplemental Unemployment Benefits

  Jury Duty Pay Turned Over to Your Employer

  Impairment‐Related Expenses

  Military Benefits

  Contributions to State Benefit Programs

  Dependent Care Assistance

  Fringe Benefits

  Income Earned Abroad

Alert

At the time this book was published, Congress was considering tax changes that could affect 2022 tax returns and planning for 2023. Check the online Supplement in February 2023 at www.jklasser.com or www.BigIdeasForSmallBusiness.com to see what changes have been enacted and when they become effective.

Your job not only is what occupies the majority of your time during the greater part of each week and, hopefully, provides satisfaction; it also gives you a paycheck and perhaps other benefits. While your earnings are taxable in most cases, some of the fringe benefits may be tax free.

In order to earn that paycheck, you may have to expend your own dollars on various things. Unfortunately, for 2018 through 2025, you cannot deduct most of your unreimbursed employee business expenses (unless you are a performing artist with certain income, a reservist, a state or local government official paid on a fee basis, or have impairment‐related work expenses). You may want to talk with your employer about covering some or all of your job‐related expenses (e.g., driving your car on company business). If ...