Idaho Tax Preparation Fees
Your Idaho business can deduct the cost of tax preparation in Idaho. If you paid taxes and used a credit or debit card to do so, you can also deduct convenience fees.
Hobby expenses can be claimed as “other miscellaneous deductions.” However, you can only deduct as much as you made in income from your hobby in Idaho.
Personal Legal Bills
Personal legal bills in Idaho are considered “other miscellaneous deductions”. You can deduct your legal fees as long as the lawyer is pursuing taxable income on your behalf, or is working on a determination, collection, or refund of any tax.
You may also deduct legal expenses if you were fighting to keep your job. Legal deductions in Idaho are limited to 2% of your Adjusted Gross Income (AGI).
If you worked as an eligible educator in a K-12 teacher, aide, counselor, or administrator, and you had to personally purchased necessary back-to-school supplies for the classroom, you can deduct up to $250 worth of these expenses in Idaho.
Charitable Mileage in Idaho
While it’s widely known that cash or goods donated to charities are tax-deductible, you may not realize that mileage driven as a volunteer in Idaho is also deductible
Losses Due to Theft or Destruction
You can deduct the amount of the loss that you weren’t reimbursed for by your homeowner or auto insurance company in Idaho.
Retirement Savings Contribution Credit
If you contributed to a retirement savings account in Idaho, you may be eligible for the saver’s tax credit.
Education classes, seminars, continuing education, or webinars that increase your current skills for your job or Idaho business, can be a tax deduction.
Property Taxes on a Timeshare
Many times, the property tax portion on a timeshare in Idaho are included in your yearly maintenance fee. Check the statement to see if they are separated out.
Penalty on Early Withdrawal of Savings
If you were charged a fee for early withdrawal in Idaho, you can deduct the penalty on your 1040 as part of your AGI.
Breastfeeding Equipment and Pumps
The IRS allows breast pumps and other breastfeeding equipment to be considered medical equipment, which means the cost can be deducted in Idaho.