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Chicago Illinois Form 2106-EZ: What You Should Know

Expenses include travel to attend meetings and conferences; meals, beverages, and lodging you paid or reimbursed; other employee-related expenses not directly related to your work; the cost of your equipment (such as laptops and business travel) and the rental or sale of similar equipment; and office supplies, computers, software, and books that are for your own use.  Example: An accountant has a 250,000 salary and expenses of 20,000 for conferences. These include 10,000 for travel to attend conference meetings, 3,000 for meals, and 7,000 for personal use items such as stationery and stationery supplies (including stationery used to prepare your income tax returns). Non-Employee Business Expenses: Advertising You may also use Form 2106 or Form 2106–EZ for non-reimbursed expenses you incur to advertise your business. For example:  An accounting firm makes 100,000 and invests 50,000. A full-page ad on a local newspaper calls attention to the firm's services. You can report the expenses as a deduction on your income tax return, and you may deduct them even if you are not the advertiser, such as if you: A person creates a video and you as the person in the video endorse the video. An employer sponsors educational videos at the request of an employee. Example: You own the business for which you advertise. You can only deduct expenses to advertise your business unless you are the endorser (i.e., you endorse the video). Note that you do not need to keep records of these expenses. Form 2106-EZ: Reimbursed Employee Business Expenses For employees who meet certain requirements, you may use Form 2106-EZ instead of Form 2106. For more information on Form 2106-EZ, go to Form 2106. For more information, go to IRS.gov/payments/employee-business-expenses-tax-deduction Mar 4, 2024 — The IRS has two different types of Form 2106 that you can use to claim non-reimbursed expenses you incur during your normal course of work. Employee Business Expenses: Investments Generally, you must use Form 2106 or Form 2106–EZ to figure your deduction for employee business expenses and attach it to your Form 1040 (PDF).

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