[CAUT] PTG Dues

[Israel Stein]

At 11:00 AM 1/7/2008, caut-request at ptg.org wrote:
>IF your only source of income is working for someone else, and you 
>are required by your employer to belong to a trade organization, 
>and/or your employer requires you to purchase your own tools to do 
>your work, then they are deductible.
>Willem (Wim) Blees, RPT
>Piano Tuner/Technician
>Honolulu, HI
>Author of
>The Business of Piano Tuning
>available from Potter Press
>www.pianotuning.com


Folks,

If anyone here believes the above as written and follows this advice 
- they  might be unpleasantly surprised.

What we are dealing with here are Employee Business Expenses - which 
are subject to a 2% limitation. Which means that this would be 
deductible only if your expenses of this sort total more than 2% of 
your Adjusted Gross Income and you can only deduct the portion that 
is in excess of your Adjusted Gross Income. Which means:

If your pre-tax salary is $55,000 for the year, and you have 
adjustments to income (such as certain moving expenses, eligible IRA 
contributions, alimony payments or other such deductions) of $5000 so 
your Adjusted Gross Income is $50,000, then you can't deduct anything 
less than 2% of 50,000 - which is $1,000. And you can only deduct 
amounts in excess of $1,000 - that is, if you spent a total of 
$1,112  on dues and tools, you can only deduct $112.

And if you don't believe me, look at your IRS Schedule A to Form 1040 
- and read the instructions.

I wish people who write stuff would research it before they write.

Israel Stein