There are certain miscellaneous costs that you pay during the year you may be able to deduct. Some examples include employee expenses and fees that you pay for tax advice. These deductions could lower your tax bill if you itemize.
Below are facts the IRS wants you to be aware of regarding miscellaneous deductions:
Deductions Subject to the Two Percent Limit: Most miscellaneous costs can be deducted if their total is more than two percent of your adjusted gross income. These include expenses such as:
  • Unreimbursed employee expenses.
  • Expenses related to searching for a new job in the same line of work.
  • Certain work clothes and uniforms.
  • Tools needed for your job.
  • Union dues.
  • Work-related travel and transportation
Deductions NOT Subject to the Two Percent Limit: There are some deductions that are not subject to this limit, they include:
  • Certain casualty and theft losses. This generally applies to damaged or stolen property that you held for investment (i.e. stocks, bonds, and works of art).
  • Gambling losses up to the amount of your gambling winnings.
  • Losses from Ponzi-type investment schemes.
There are many expenses that you cannot deduct. Some example include personal living or family expenses. You claim allowable miscellaneous deductions on Schedule A, Itemized Deductions.
For more information on miscellaneous deductions please feel free to call us or visit Publication 529 at
Source: IRS Summertime Tax Tip 2014-19