I am employee of a company, but sometimes I use my own money to pay for graphic designers, music video directors, to help the company grow. My boss says I should stop spending my own money, but I do because I believe it will benefit and make our company better. Can I claim these expenses on my taxes?

ANSWER

The BIDaWIZ Team's Answer:

Yes, you should report these expenses paid as unreimbursed employee expenses. You would report these amounts on Form 2106 which flows to line 21 of Schedule A of your form 1040. Please make sure that you have copious notes detailing the expenses paid in case of a future audit. This is referenced in IRS Publication 529 and IRC Section 274(d).