Law Enforcement Most Overlooked Job Related Deductions

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Transcript of Law Enforcement Most Overlooked Job Related Deductions

Law Enforcement

Tax Return ExpertsPresents

Most Overlooked Job Related Deductions

First Year in Law Enforcement Professional’s Career

Most Academy Students Do Not Know

➢ What can be Deducted on Tax Returns

➢ Totals commonly exceeds the Standard

Deduction

➢ Total of Itemized Deduction

can change the Tax by

Hundreds of $$$’s

What is Standard DeductionFor 2015?

Filing Status

Amount

Single $6,300 Married

$12,600

Head of Household $9,250

What are Itemized Deductions ?

➢ State Taxes Paid Income Tax, Property Taxes

➢ Car/Truck DMV License

➢ Mortgage Interest Home Loan

➢ Donations Cash or Non-Cash

➢ Job Expenses See our Worksheets

**Advantage to Exceed Standard Deduction

Lowers Tax Due

Itemizing is recording allowed “Deductions on Schedule A”

Commonly Missed Deductions

○ Communications

○ Uniform, Gear & Equipment Purchases

○ Temporary Job Site Travel

○ Cleaning of Uniforms

Communications○ Personal Cell Phone Use for Job

○ Private Communication Device○ For Job only or Family Plan

○ When communications usually happen○ Emergency Call-in – Need more workers○ Other workers not able to cover shift○ Special Event Coverage – Staff Shortage

○ Types of communications on Private Device○ Text Messages○ Voice Recordings○ Emails○ Direct Communications

Our Office Knows

○ Federal Law that allows Deductions

○ When the deduction is Qualified

○ What is allowed to be deducted

○ How to record the expense on Tax Return

Law Enforcement Discounts

○ We give rewarding discounts

○ Student Discounts (Posted on Website)

○ Discounts to Firefighters $ 50

○ Discounts for Referrals $ 50 Each

Our Tax Office wants to be your Tax Service

Professional

Hire Tax Professional or Use Online Tax Software?

What Turbo Tax & H & R Block will not do:

○ Identify items Law Enforcement Professionals can deduct

○ Explain the deductions allowed○ Alert about special rules that apply to

your Job Related Deductions○ Ask detailed questions to ensure best

result○ Know how to record correctly