If I work as a hairstylist and make commission, can i claim product cost that I have to pay?
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Every customer which we do tone on, we am charged approx. .00, upon tip of creation approx. 58% commission. we am an employee, we do not compensate the franchise for my station. Because of this, can we still explain this income which we am being charged? My trainer says which we can’t, since we am an employee. How does this work? How can they assign this?
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Related solution post:
You are an employee if the employer is withholding taxes from your paycheck. Then you can deduct business (your job) related expenses only if you itemize your deductions. You itemize your deductions only if your itemized deductions are more than your standard deduction ($5,350 for Single).
If the employer is not withholding taxes, then you are independent contractor. You can deduct the expenses on schedule C (Form 1040). You also pay SE tax at 15.3%.
Sort of.
Unreimbursed business expenses of an employee are an itemized deduction subject to 2% of agi.
If you don’t itemize, you can’t claim any.
If you make $10,000 AGI, the first $200 wouldn’t even count.