Scott Income Tax and Advisory Services Inc

04/06/2024

Support the businesses that supports you. bank

01/14/2024

Now offering Chief Financial Officer service. Please call the office at 914 667 0403 for more details.

06/22/2023

We added the yellow trim....

01/07/2023

She did it!!! Congrats Ashley on your GRAND OPENING!!!

01/30/2022

The snow made a visit yesterday

01/17/2022

The next step of the office transformation.

11/28/2021

Adding a little more functionality to the office. Better use of our space. Thanks to and Flavio

10/02/2021

A very easy way to answer your tax research questions. it is now accessible from Drake software and if you are a premium member of NATP it's included with your subscription.

04/02/2021

03/19/2021

Home of Back Tax Problem Solvers. 411 Theodore Fremd Ave Suite 206 Rye NY.

12/28/2020

Some Employees May Still Qualify to Deduct Business Expenses – Did You Know?

The Tax Cuts and Jobs Act (TCJA) of 2017 eliminated the tax deduction for business expenses for most workers classified as employees. However, some employees may still qualify for a deduction by filing the proper form with their federal tax returns.

Eligible school employees may claim the Educator Expense Deduction for up to $250 of unreimbursed expenses necessary for their work, such as classroom supplies. Qualifying for this deduction generally requires working for at least 900 hours a year as a teacher, principal, counselor or classroom aide at an elementary or secondary school.

In addition, employees in the following categories may qualify to deduct business expenses:

- Armed Forces reservists, that is, members of the Army and Air National Guards, along with members of the Army, Navy, Air Force, Marine Corps and Coast Guard Reserves

- Qualified performing artists classified as employees, such professional dancers, actors and musicians employed by professional companies

- State and local government officials categorized as “fee-basis” workers (typically, these officials must pay self-employment tax)

- Employees with work expenses related to a physical or other impairment

These employees may be eligible to deduct unreimbursed “ordinary and necessary” costs related to carrying on their business as employees. Qualifying expenditures might include travel, costumes, workspace adaptations or office supplies.

A professional tax advisor can help you determine whether you qualify to deduct business expenses as an employee, and which forms you must file in order to do so.