Feb 06 Repeal of Miscellaneous Itemized Deductions – What Does This Mean for Employee Business Expenses?
Last Updated Feb 06, 2018 in Get Balanced: Bookkeeping Made Easier
Before the Tax Cuts and Jobs Act, individuals who itemized their deductions could take certain miscellaneous itemized deductions to the extent that those deductions exceed 2% of their adjusted gross income (AGI). These deductions included several types of unreimbursed employee business expenses.
As of December...