How to claim work expenses when filing your taxes in 2022January 14, 2022
Theturned many corporate employees into remote workers over the past two years — and if you were part of the you might have even started your own business or opted for a freelance or other remote position. More people have had to navigate and the workplace expenses that come with it. And currently, the best-known employment-related tax deduction — for home office expenses — is reserved for those who are both self-employed and have a dedicated home space for working.
Still, there are a handful of other work-related expenses that both corporate employees and the self-employed may be eligible to claim on their taxes.
Here’s a list of the work expenses and deductions that you can presently claim.
How to claim work expenses on your taxes: Choose a deduction
Before you start going through every line item of every receipt, you may want to save yourself the trouble and figure out which you’ll take: the standard deduction or the itemized deduction.
Standard deduction: The standard deduction is an all-encompassing flat rate, no questions asked. For tax year 2021, the flat rate is $12,550 for single filers and those married filing separately. The rate is $25,100 for married filing jointly. Taking this route is much easier than itemizing.
Itemized deduction: If you want to claim work expenses, medical payments, charitable contributions or other expenses, you’ll use the itemized deduction. It’s more time-consuming than the standardized deduction — and you’ll need proof of the expenses you wish to deduct.
If you’re going to claim and itemize your work expenses, you’ll need to complete Schedule A of Form 1040. You need to have sufficient proof for each itemized expense, which means tracking down receipts. If your standard deduction is greater than the sum of your itemized deductions, save yourself the trouble and take the flat-rate.
Common tax deductions to claim
Before you start adding up all the line-items, make sure you know what’s covered and what isn’t. Here are some of the most common deductions for folks working from home.