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Top three missed deductions for sales people

We have a lot of clients that are sales professionals. Often their previous CPA has never told them all of the wondrous things that they can deduct in their position. Here are the top three.

Scottsdale CPA, Shauna Wekherlien, Tax Goddess tells us how to deduct mileage easily

Number one: mileage driven on behalf of their employer.

The mileage rate is well over $.50 now, that means for every mile the drive you are able to deduct $.50. For many sales people there driving on average between 10 to 20,000 miles a year. That can add up to some serious tax bucks.

Tax Tools

Number two: small tools and equipment for your job.

Often sales people are required to purchase equipment. Maybe you use an iPad to help you sell, or maybe you have to buy your own cell phone. These types of things can be deductible so make sure that you let your tax preparer/CPA know about them when you buy them.

 

magazines

Number three: dues and subscriptions.

If you need to purchase magazines or other educational materials, or you have dues and subscriptions to professional memberships these are deductible. Make sure that you are writing them down, recording them, and providing them to your tax preparer/CPA.

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PLEASE NOTE: As of late Aug 2018 there was a proposed law change that would disallow a double deduction for these charitable credits at the federal level for contributions made after Aug 2018. You are still eligible for the AZ state tax credits as the change would only impact your ability to take them as charity donations at the federal level.
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