You can deduct dues and initiation fees you pay for union membership. You can also deduct assessments for benefit payments to unemployed union members. However, you cannot deduct the part…

If you were an eligible educator in 2010, you can deduct up to $250 of qualified expenses you paid in 2010 as an adjustment to gross income on Form 1040,…

If you break an employment contract, you can deduct damages you pay your former employer if the damages are attributable to the pay you received from that employer. Depreciation on…

A business bad debt is a loss from a debt created or acquired in your trade or business. Any other worthless debt is a business bad debt only if there…

Generally, the following expenses are deducted on Schedule A (Form 1040), line 21, or Schedule A (Form 1040NR), line 9. You can deduct only unreimbursed employee expenses that are: Paid…

You can deduct certain expenses as miscellaneous itemized deductions on Schedule A (Form 1040 or Form 1040NR). You can claim the amount of expenses that is more than 2% of…

Tax-free college savings plans and prepaid tuition programs can be used to buy computer equipment and services for an eligible student during 2009 and 2010. These 529 plans — qualified…

The loss of a job may create new tax issues. Severance pay and unemployment compensation are taxable. Payments for any accumulated vacation or sick time also are taxable. You should…

When it comes to what a leader is really paid, a distinction must be made between base salary and additional stipends. Leaders may receive free residences or residential stipends, free…