There's more to a good job with a regular salary .
full time job, you can make all sorts of benefits -. health insurance sponsored by employers with generous deductions on your tax return
Here are 10 tax benefits of employment that could save you serious money.
Only pay half your taxes on employment.
most of us complain when you see how much money is withheld from our paychecks, but full-time employees have a huge advantage over the independent and independent contractors regarding the taxes.
Your employer pays half of your contributions to Social Security and Medicare, while independent people must pay for it themselves.
Get help with health insurance.
many employers pay part of the monthly premium for an employee-sponsored group health plan.
This is a huge advantage, but make sure you get enough coverage for your family's needs.
self-employed may purchase private health insurance market by the Affordable Care Act, and the level of income and family size, you may qualify for a tax credit to help pay for this.
contribute to an FSA or HSA.
Two types of tax free savings accounts let you assign the money before taxes to help pay for out-of-pocket medical expenses.
Flexible Spending Accounts (FSA) are exclusively offered by employers, but anyone who has a high deductible health plan can open a health savings account (HSA).
Make sure you understand contribution limits and rules for working these accounts, especially because you may lose all unspent funds at the end of the year.
Max on retirement savings.
contribute to an employer-managed 401 (k) is obvious: In most cases you can invest pre-tax dollars, which reduces your taxable income
more, many employers will match a percentage of your contributions up. to an annual limit.
This is free money for your retirement!
Independent People can also set aside up to $ 5,500 in either a traditional or Roth IRA.
cash in the work "at home".
If you set aside a room in your home that you use regularly and exclusively for work, which counts as a home office.
Using the new simplified method, the IRS allows you to deduct $ 5 per square foot up to 300 square feet for a home office.
Deduct supplies and job-related equipment.
If you run your own business or work from home, you can deduct the portion of your mortgage payments, utilities, Internet and phone bills that cover your workspace.
you can also deduct the cost of equipment related to employment such as computers and office supplies at home.
Remember that this is only if you itemize deductions, and deductions must respect the rule of 2%.
Make every mile.
If you travel exclusively for business purposes, you can deduct most outstanding travel costs; including the consumption of gasoline, airfare, car rental, hotels and even half the cost of meals.
This applies to employees and self-employed.
A point to keep in mind: Travel to and from your usual workplace - aka the go - do not qualify
Save on your dry cleaning bill
If your employer requires you to wear a special uniform .. for work, you can deduct the cost of maintenance and cleaning things like clothes, work boots, helmets and other specialized equipment.
good examples are the clothes policemen, firemen and theater artists carry on the work.
you can not, however, deduct the cost of any clothing, job-related, you can also wear outside of work.
Upgrade your education.
If you pay for classes that directly improve your ability to perform your work - and your employer does not reimburse you -. you can deduct tuition and fees from your taxable income
This applies to the training required by your employer or the classes you choose to take on your own.
looking for a new job.
This tax benefit is pretty amazing.
If you are unemployed and looking for a new job in your field, you can deduct the cost of all research expenditures related to employment, including resume and printing business cards, job placement services, interview coaching, and online subscriptions of the labor board.
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