Business vs. Personal Expenses: The Ultimate Tax Guide (2025/2026) скачать в хорошем качестве

Business vs. Personal Expenses: The Ultimate Tax Guide (2025/2026)

Need a tax pro? Go to MyOnlineTaxGuy.com Are you confused about what you can actually write off on your taxes this year? In this video, we break down the critical differences between personal and business expenses for the 2025 and 2026 tax years. While unreimbursed employee expenses—such as uniforms, tools, and union dues—have been suspended for the vast majority of employees since 2017, there are still specific exceptions you need to know about. We explain who still qualifies for these deductions and how business owners are treated differently. In this video, we cover: The General Rule: Why most employees cannot deduct continuing education or tools. The Exceptions: We detail the special rules for K-12 educators, Armed Forces members traveling over 100 miles, qualified performing artists, fee-based government officials, and employees with disabilities. Business Owners & Statutory Employees: How "ordinary and necessary" expenses on Schedule C work for the self-employed and those with Box 13 checked on their W-2. Common Myths Busting: Cell Phones: Why you can't deduct your phone unless you have your own business (and even then, only the business portion). Commuting: Why standard commuting is never deductible, and how business travel requires an overnight stay to qualify. New for 2026: Significant changes for educators, including an increase in the deduction to $350, new eligibility for K-12 athletic teachers, and inclusions for athletic equipment and professional development. Disclaimer: This video is for informational purposes only and does not constitute professional tax advice.