Description

This video by TV360 offers you expert advice on deducting travel expenses for workers who work from home.

Transcript

Deducting Travel Expenses for Home Office Workers Jennifer: I’m Jennifer from Wisconsin. I used to work at a large company. Recently I took a new job with new company that requires me to work from my home part of the time and travel part at a time. How do I prepare for taxes specifically if the right house is supposed to be with this new working situation? Cindy Hockenberry: Well Jennifer congratulations on your new job. If your employer requires that you work from home you may be entitled to deduct some of the cost of your home as a home office. Also if your employer requires that you travel and he does not reimburse you for your travel, meals, and lodging you’re allowed to deduct those actual expenses. If your employer does reimburse you and you have travel meals and lodging that are an excess of the reimbursement you can also deduct those. However you need to itemize your deductions and they’re limited to 2% of your total income.