CLIENT REPORT

Tax Planning:

Un-reimbursed Business Expenses

Dear Client:

As the year begins, you may be wondering what you can do now to minimize your current year tax liability. One way to minimize your tax liability is to maximize your deductions. Based on a review of your prior year's tax return, you may be eligible to deduct unreimbursed business expenses, or, if you already claim these expenses, you may qualify for a larger deduction.

In order to be reimbursed, trade or business expenses must be ordinary, necessary, and reasonable. Examples of qualifying expenses include:

· Travel, transportation, meal, or entertainment expenses

· Safety equipment, small tools, or supplies

· Uniforms required by your employer that are not suitable for everyday wear

· Required protective clothing

· Dues to professional organizations

· Subscriptions to professional journals

· Certain job hunting expenses

· Certain expenses for the business use of your home

· Certain educational expenses

If you would like me to review your records to ensure that you are maximizing your unreimbursed business expense deduction, please contact my office to make an appointment to discuss this important tax planning opportunity. Meanwhile, please ensure that you maintain appropriate records to substantiate your expenses.

Sincerely yours,

Julie M. Straw, CPA

Reproduced with permission from CCH’s Client Letter, published and copyrighted by CCH Incorporated, 2700 Lake Cook Road, Riverwoods, IL 60015.