iStock/Thinkstock(NEW YORK) — What kind of deductions can you get from where you work?
New York tax accountant Janice Hayman says it depends on what line of work you’re in.
“If you’re self-employed, we have a bundle of deductions for you,” she says. Those deductions could include heating, water and air conditioning if you work from home.
If you’re an educator, you can save on classroom supplies.
“This is for elementary and high school teachers. They get what we call an above the line deduction of $250 for supplies that they have purchased during the year and used in their jobs,” Hayman explains.
Just make sure you save your receipts.
When it comes to filling out your company’s W-4 Form, Hayman advises you over withhold to get a bigger tax return rather than making the most out of your allowances to get paid more in your paycheck.
“Over withhold a little bit to give them a cushion in case there’s anything that comes up during the year we’re not anticipating,” she says.
Copyright © 2016, ABC Radio. All rights reserved.
