It’s tax season again, and I want to make sure you are aware of the potential effect of taking this particular deduction…
The deductions you take on Schedule A for “unreimbursed job expenses” will come out of your adjusted gross income as a direct deduction of your income.
This deduction would be things like job travel expenses, union dues, job education, etc.
I’ve seen some rather large deductions in this category over the years – and sometimes it’s meant the difference between loan approval and denial.
So, if you know you will be applying for a loan in the next couple of years – be aware of how this “unreimbursed job expenses” deduction will impact your overall income.
Thank you for reading my email – and have a great day!
Brett
P.S. Big changes coming in the mortgage industry April 1st. …Tell you more about it soon.
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