Some of the Employee Expenses that are Deductable

Many employees today are using their own resources to provide certain miscellaneous items that help their employer's business run more efficiently. Unfortunately these expenses are not being reimbursed or employees are afraid to ask for reimbursement. The good news is that the IRS may allow you to get some tax relief in these circumstances. If you find that you are spending your own money at business related functions, home-work activities or multiple job sites, then you may be entitled to request a company reimbursement or claim a tax deduction for your un-reimbursed expenses. Here are some of the most common costs that employees may be able to deduct if not reimbursed. Business Miles: If you use your own vehicle for any business purposes, keep track of you mileage, you may be able to deduct them at 51 cents per mile (2011 figure). If you travel between job sites during the day, make bank deposits, deliver packages or materials or drive as an outside sales person, your miles can add up to a large tax savings. Travel Expenses: If you are required to travel overnight for any business related purpose without being reimbursed, your costs are deductible. Conferences, continuing education trips, off site training programs or whatever other business related trip costs are deductible. Make sure to keep receipts and a log book. Parking and Tolls: If you are paying tolls or even certain parking fees as part of your work, you may be able to deduct them. Daily commuting tolls are not deductible, but any other tolls are. If you work in a downtown area and your employer does not provide on-site parking, your parking fees for off-site parking may be deductible. Keep your receipts and let your tax adviser know. Uniforms: Uniforms are often overlooked. Whether it is nurse uniforms or steel-toed work boots, they are a job requirement. While some employers provide them, many others do not. If you find that you are purchasing clothing items that are used exclusively at your job and would not be used for everyday wear, they are probably deductible expenses. Association Dues: Any fees or dues that you pay as part of your work relationship, are deductible. If you pay for notary public, professional association, re-certification, licensing or union dues, you can take a deduction for these items as well. Meals and Entertainment: Many employees these days are being asked to work overtime, are "on call" or travel between job sites. If you incur meal costs during these special work events, keep receipts and take your deduction. If you entertain customers or clients during or after hours, your expenses are also deductible if they are not reimbursed.

The Base of Travel Expense

As business travel expenses nose upward, companies are realizing that better cost-management techniques can make a difference.US corporate travel expenses rocketed to more than $143 billion in 1994, according to American Express' most recent survey on business travel management. Private-sector employers spend an estimated $2,484 per employee on travel and entertainment, a 17 percent increase over the past four years.

Corporate travel expense programs, now the third-largest controllable expense behind sales and data-processing costs, are under new scrutiny. Corporations are realizing that even a savings of 1 percent or 2 percent can translate into millions of dollars added to their bottom line.

Savings of that order are sure to get management's attention, which is a requirement for this type of project. Involvement begins with understanding and evaluating the components of travel expense management in order to control and monitor it more effectively.

Hands-on management includes assigning responsibility for travel management, implementing a quality-measurement system for travel services used, and writing and distributing a formal travel policy. Only 64 percent of U.S. corporations have travel policies.

Even with senior management's support, the road to savings is rocky-only one in three companies has successfully instituted an internal program that will help cut travel expenses, and the myriad aspects of travel are so overwhelming, most companies don't know where to start. "The industry of travel is based on information.

Level up your Reporting Choose the Best One

Are tired in making all the mess that you have during your reporting day? I’m sure you did with all the stacks of papers that you have in your table throughout the day. Surprisingly maybe this is the time that you must need to try something new in the business that you have make every reporting easier and faster. We all know that keeping in the fast track with all the expenses that you have.

Making the business trip is one of the most exciting thing that the employee could ever experience in the world of business but somehow it takes a lot of effort for it for the benefit of the company but today a lot of technologies are circulating in web that makes a big lift up in the entire appearance of your business company. Software are one of the considered today as the aid of any business companies in making their online transactions possible and getting in touch with the clients that they have an urgent connection with the company for the different queries that they have. Choosing the best expense management software is the best way in making your business a new things that lifts up in the market of your company in the world of business. Most of the company today are making a big things in their company in making all the things in the different ways since every businesses in the market today are relying in the technology in making all their business works out in the market especially in the online world of business.