Helpful Tax Deductions For Social Workers

Similar documents
APPENDIX K REIMBURSEMENT OF TRANSPORTATION, LODGING, MEALS, AND TRAVEL EXPENSES INCURRED BY KITSAP COUNTY OFFICERS, EMPLOYEES AND VOLUNTEERS POLICY

Travel, Transportation Modes and Transportation-Related Expenses

Revised. April Travel Policy

The Top Section identifies Who-What-When-Where :

MAY I DEDUCT MY EXPEDITION EXPENSES AS A CHARITABLE CONTRIBUTION?

Travel Procedures can be found on the Financial Services Travel Information page.

RONALD McDONALD HOUSE CHARITIES ( RMHC ) Travel and Entertainment Reimbursement Policy (the Policy )

EMPLOYEE TRAVEL POLICY

DATE ISSUED: 2/13/ of 5 LDU DEE(LOCAL)-X

Tomorrow River School District Administrative Procedure

The travel and general expense reimbursement policies exist primarily for three reasons:

COWLEY COUNTY, KANSAS Meals and Travel Policy Effective August 1, 2014

Travel, Transportation Modes and Transportation-Related Expenses

Illinois REALTORS. Officer Travel Policy & Expense Reimbursement Guidelines

KENTUCKY COMMUNITY AND TECHNICAL COLLEGE SYSTEM BUSINESS PROCEDURES MANUAL

University of North Alabama. Travel Policies

2017 MNCPA TAX GUIDE FOR MINNESOTA LEGISLATORS

PLATTE CANYON WATER & SANITATION DISTRICT EXPENSE REIMBURSEMENT POLICY

Travel Policy and Procedures. California State University, Sacramento Revised October 2011

TOPIC: TRAVEL STATE OF MISSISSIPPI DEPARTMENT OF EDUCATION. SECTION: 13.0 PAGE 1 OF 12 EFFECTIVE DATE: MAY 1, 2000 REVISION #4: January 1, 2014

REQUEST FOR DISTRICT WORKSHOP / CONFERENCE FUNDS

All travel on behalf of the University must be properly approved fourteen (14) days prior to the date of travel.

Massachusetts Legislator's Tax Guide 2014

Expenses are reimbursable when it is a part of an employee s job function. These expenses include:

Staff Expense Reimbursement

Accountable Plans as per the IRS Code Section 62(c) and IRS Regulation

T. TRAVEL REGULATIONS

B. Compliance with applicable sections of the U.S. Internal Revenue Code.

City of Bellingham Policy

MADERA COUNTY ADMINISTRATION

General Policy - Reimbursement of Expenses for Travel

TRAVEL REGULATIONS 2. TRAVEL BY INDIVIDUALS WHO ARE NOT STATE EMPLOYEES

Persons Not Eligible for the Standard Deduction

Charitable Gifts and Deductions

CHAPTER TR - TRAVEL AND REIMBURSEMENT POLICY. Page. TR Purpose TR Authority TR Application... 1

EVALUATOR REIMBURSEMENT INFORMATION POLICY AND PROCEDURES

TRAVEL AUTHORIZATION AND EXPENSE REIMBURSEMENT. A. In State Travel Prior Activity Form to Use Authorization

SP Business and Noninstructional Operations TRAVEL

Board Policy No. 7 Board Member Compensation and Travel Expense Reimbursement

A Spend Authorization Request (SA), prepared in accordance with established procedures, must be issued and approved prior to travel.

SANTA BARBARA COUNTY EMPLOYEES RETIREMENT SYSTEM TRUSTEE TRAVEL POLICY I. PURPOSE

REG Travel

Common Deductions For Business Owners

Travel Expense and Reimbursement

Princeton Theological Seminary BUSINESS EXPENSE REIMBURSEMENT POLICY*

TRAVEL POLICY AND PROCEDURES MANUAL

Travel and Hospitality Policies

Equestrian Australia Travel Claims Policy

KITTITAS COUNTY TRAVEL REIMBURSEMENT POLICY

Adjustments to Income

Soledad Unified School District - Travel and Conference Policy - January 2018

Travel and Entertainment Reimbursement

Clackamas Education Service District

Travel Expense Policy

SECTION 6: TRAVEL POLICIES AND PROCEDURES

HORRY COUNTY TRAVEL POLICY AND PROCEDURES MANUAL

YALE-NEW HAVEN MEDICAL CENTER (YNHMC)

CF:60:C:002.2 TRAVEL POLICY

Travel Policy and Procedures Manual

POE Page 1 of EMPLOYEE TRAVEL POLICY

TERRA STATE COMMUNITY COLLEGE Fremont, OH POLICIES AND PROCEDURES

ST. CLOUD MUNICIPAL BAND EXPENSE REIMBURSEMENT POLICY1

Columbus City Schools/ Columbus Education Association

Accounting EXPENSE/TRAVEL REQUEST AND REIMBURSEMENT

STATE JOINT TRAVEL REGULATIONS JUDICIAL BRANCH TRAVEL POLICY

4402 MILEAGE REIMBURSEMENT

Medina County Policy Manual

Travel and Expense Reimbursement Policy

Expense Report Guide

State of New York Office of the State Comptroller Travel Manual. Prepared by: Division of Contracts and Expenditures Bureau of State Expenditures

Manual Of Policies And Procedures

TRAVEL. Policies & Regulations

Columbus City Schools/ Columbus Education Association

TRAVEL POLICY AND EXPENSE REPORTING BOARD OF DIRECTORS POLICY AND PROCEDURE NUMBER 032

Travel Expense Policy. Responsible Office Contact:

DEPARTMENT OF BUDGET AND FINANCE 4.6 JUDICIAL BRANCH TRAVEL POLICY

STATE OF COLORADO FISCAL RULES

University Enterprises, Inc.

MINOT STATE UNIVERSITY Important Travel Information

TITLE II ADMINISTRATIVE REGULATIONS BUSINESS TRAVEL POLICY

Provo City School District Policy Series 6000 Finances and Operations 6410 P1

TRAVEL LOG INSTRUCTIONS

3330 A Procedures and Limitations: Employee Travel

Accountable Reimbursement

OKLAHOMA CITY BOARD OF EDUCATION OKLAHOMA CITY PUBLIC SCHOOLS TRAVEL EXPENSE APPROVAL, DOCUMENTATION, AND REIMBURSEMENT ADMINISTRATIVE REGULATION

British Fencing EXPENSES POLICY TRAVEL AND SUBSISTENCE

RYE CITY SCHOOL DISTRICT RYE, NEW YORK PROCEDURES FOR REIMBURSEMENT FOR TRAVEL

Policy Title: General Travel. Policy Type: Finance/Administration New/revised: Revised. Old Policy #: FP-7 and 4:03:03:00

Charitable Donations

Major Types. Employee. Non employee travel for business Student. In State Out of State Foreign

Salt Lake Community College Policies and Procedures Manual

Coast Community College District ADMINISTRATIVE PROCEDURE Chapter 7 Human Resources

All out-of-state travel for which reimbursement will be claimed shall be approved in advance by the Board.

Department Of Finance and Administration Policy 8 - Comprehensive Travel Regulations. Introduction

Agenda. Pre-Trip Approval Booking Travel Methods of Payments. During Travel Travel Status Allowable Expenses Unallowable Expenses

When traveling on behalf of FSU or Pierpont, you must tell a complete story. All expenses regardless of payment method must be noted and supported by

Travel and Reimbursement Policy For Officers and Employees

CP#4-03 Members & Volunteer Travel Reimbursement Policy

UPP 1-09: Travel Policy University Policies & Procedures

Relocation Policy. 01 Policy Statement Reason for Policy Who Needs to Know This Policy Eligibility... 2

Transcription:

Helpful Tax Deductions For Social Workers Tax questions answered regarding the deductibility of volunteering, continuing education, and travel expenses. P.O. Box 27582 Raleigh, NC 27611-7582 (800) 280-6207 www.naswnc.org

Volunteering Contributions can be in cash, property, or out-of-pocket expenses you paid to do volunteer work. If you drove to and from the volunteer work, you can take the actual cost of gas and oil or 14 cents a mile. Add parking and tolls to the amount you claim under either method. DO NOT deduct any amounts that were repaid to you. Amounts should be totaled and used when calculating the totals for line 17 on Form 1040 ( Schedule A). Recordkeeping. For any volunteer work expenses deducted for tax purposes, record of the volunteer work must be individually maintained. A written record from the charity is also acceptable. The written record must include the name of the charity, and date. This is to verify that volunteer work was provided. Receipts of gas used for the volunteer work must also be kept for records and/or the mileage to and from the volunteer site to principal place of residence, whichever method is chosen. Qualifying work-related education... What is the tax benefit of taking a business deduction for work-related education. If you are an employee and can itemize your deductions, you may be able to claim a deduction for the expenses you pay for your work-related education. Your deduction will be the amount by which your qualifying work-related education expenses plus other job and certain miscellaneous expenses is greater than 2% of your adjusted gross income. An itemized deduction reduces the amount of your income subject to tax. If you are self-employed, you deduct your expenses for qualifying work-related education directly from your self-employment income. This reduces the amount of your income subject to both income tax and self-employment tax. Your work-related education expenses may also qualify you for other tax benefits, such as the tuition and fees deduction and the Hope and lifetime learning credits. You may qualify for these other benefits even if you do not meet the requirements listed above. In order to claim a work-related education deduction, you must: Be working, Itemize your deductions on Schedule A (Form 1040 or 1040NR) if you are an employee

Qualifying work-related education (continued)... File Schedule C (Form 1040), Schedule C-EZ (Form 1040), or Schedule F (Form 1040) if you are self-employed, and Have expenses for education that meet the requirements discussed below Qualifying Work-Related Education You can deduct the costs of qualifying work-related education as business expenses. This is education that meets at least one of the following two tests: The education is required by your employer or the law to keep your present salary, status, or job. The required education must serve a bona fide business purpose of your employer The education maintains or improves skills needed in your present work However, even if the education meets one or both of the above tests, it is not qualifying work-related education if it: Is needed to meet the minimum educational requirements of your present trade or business, or Is part of a program of study that will qualify you for a new trade or business You can deduct the costs of qualifying work-related education as a business expense even if the education could lead to a degree. Education Required by Employer or by Law Once you have met the minimum educational requirements for your job, your employer or the law may require you to get more education. This additional education is qualifying work-related education if all three of the following requirements are met: It is required for you to keep your present salary, status, or job, The requirement serves a business purpose of your employer, and The education is not part of a program that will qualify you for a new trade or business

Qualifying work-related education (continued)... When you get more education than your employer or the law requires, the additional education can be qualifying work-related education only if it maintains or improves skills required in your present work. Education To Maintain or Improve Skills If your education is not required by your employer or the law, it can be qualifying workrelated education only if it maintains or improves skills needed in your present work. This could include refresher courses, courses on current developments, and academic or vocational courses. Education To Meet Minimum Requirements Education you need to meet the minimum educational requirements for your present trade or business is not qualifying work-related education. The minimum educational requirements are determined by: Laws and regulations, Standards of your profession, trade, or business, and Your employer Once you have met the minimum educational requirements that were in effect when you were hired, you do not have to meet any new minimum educational requirements. This means that if the minimum requirements change after you were hired, any education you need to meet the new requirements can be qualifying education. You have not necessarily met the minimum educational requirements of your trade or business simply because you are already doing the work.. Travel Expenses... As mentioned earlier, travel expenses are usually deductible as long as they were for work purposes, not reimbursed by the employer. You cannot deduct expenses that are lavish or extravagant or that are for personal purposes but seemingly appear for business uses. IRS can view these expenses as manipulated and will be considered non-deductible.

Travel Expenses (continued)... Travel expenses for conventions are deductible if you can show that your attendance benefits your trade or business. Deductible travel expenses while away from home include, but are not limited to, the costs of: Travel by airplane, train, bus, or car between your home and your business destination. If you are provided with a ticket or you are riding free as a result of a frequent traveler or similar program, your cost is zero Using your car while at your business destination, Fares for taxis or other types of transportation between the airport or train station and your hotel, the hotel and the work location, and from one customer to another, or from one place of business to another Meals and lodging Tips you pay for services related to any of these expenses Disclaimer: The information contained herein is made available for use as an example and content information and may not reflect the realities of an actual return. NASW nor any other agency or entities thereof, assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, product or process disclosed in these examples. Sources used to create this brochure were: www.irs.gov, and www.biztaxadvisor.com/irs-mileage-rate.html