I am an employee of a public agency and also do a little consulting on the side. Some of my expenses, e.g., subscriptions to professional journals, dues to professional organizations, I could claim as either Schedule C business expenses or employment-related expenses on Form
Not really a question of advantage. The correct treatment is to pro rate the deduction based on relative incomes from each activity.
ChEAr$, Harlan Lunsford, EA n LA
Claiming more business expenses on a Schedule C would reduce your self-employment tax. Unreimbursed employee business expenses and miscellaneous deductions are itemized deductions only to the extent they exceed 2% of your adjusted gross income.
You get a bigger bang for your buck by deducting it on your C because it lowers your AGI (Posible greater Medical and Miscellaneous Deductions due to their floor) and self employment taxes
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Can items on Schedule C also be listed on 2106 by real estate agent (independent contractor) and submitted?
I must be missing something, because it sounds like you want to deduct the same expenses twice: once on Schedule C and once on Schedule A via the
2106. No, you can't.Have something to add? Share your thoughts — no account required.
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