Re: Deduction for Independent contractor with a W-2. Can I deduct anything?

Deduction for Independent contractor with a W-2. Can I deduct anything?

I am an independent contractor. I do occasional work for an out of state company that gives me a w2. They pay my expenses and in some cases reimburse me for hotels and such. They do take taxes out of what they pay me. Can I deduct anything? Also, I contacted a tax attorney. She said that they many be taking credit for services. Not sure what that means and if it has anything to do with my situation.

posted

No, as of the 2018 tax year, business expenses for wages on W-2 workers are no longer deductible on federal returns. Some still may be counted on certain state tax forms such as those for NYS. It also sounds like they cover most of the expenses you would have.

I'm not familiar with any tax term referring to " taking credit for services".

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