Learning to file your taxes as a railroad contractor can be stressful. But we have just the ticket to help make the road ahead a little easier to navigate: a list of write-offs that railroad workers typically qualify for!
By tracking the money you spend on things like safety training, licensing fees, protective gear, and the other work-related expenses that we've listed below, you'll find yourself on the right track to tax savings.
Schedule C, Box 27a
Any uniforms you're required to wear on the job are considered tax-deductible.
Schedule C, Box 27a
Any required training on safety protocols can be written off.
Schedule C, Box 22
Write off the protective gear, like goggles and gloves, you wear while performing electrical work.
Schedule C, Box 23
Fees to get or renew your license to perform your work are fully deductible.
Schedule C, Box 27a
Continuing education class required to keep your job are fully deductible.
You don't need to drive your car every day for work to claim related car expenses. Even the odd trip downtown to pick up necessary supplies, or a drive between job sites, counts.
Schedule C, Box 27a
Parking for a meeting downtown, or any other work trip, is tax-deductible!
Schedule C, Box 27a
A toll while driving to or from a work destination is tax-deductible!
Schedule C, Box 13
If you buy a new car, you can write off part of the cost every year for five years.
Schedule C, Box 22
Flashlights, tire iron, duct tape, and other tools you may need in your vehicle are deductible.
Schedule C, Box 15
Car insurance monthly fees, registration, even roadside assistance are partially deductible.
Schedule C, Box 9
Oil changes, repairs, and regular checkups are all tax-deductible if you drive for work.
Business meals are tax-deductible, so if you meet a fellow railroad worker at a restaurant to talk about work, you can write it off.
Schedule C, Box 24b
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
It can be full steam ahead on tax savings if you claim costs associated with business travel, like attending an industry conference or workshop.
Schedule C, Box 24a
Planes, trains, and car rentals are all work-related travel costs that can be written off.
Schedule C, Box 24a
When you travel for work, lodging expenses such as hotel rooms or Airbnb are write offs.
Schedule C, Box 24a
When you're traveling for work, all meals are tax-deductible. Even takeout!
If you take an online course, do industry research, or manage client paperwork from a designated at-home workspace, welcome aboard the home office deductions train!
Schedule C, Box 18
A desk, chairs, lamps, and other home office necessities are all tax write-offs.
Schedule C, Box 21
You can write off up to $2,500 for individual repairs to your property.
Form 8829
Gotta keep the lights on in your home office! A portion of your electricity bill counts.
Form 8829
Whether it's rental or homeowners insurance, you can write off a portion through your home office deduction.
Form 8829
It'd be hard to work in an office without running water, huh? You water bill counts.
Schedule C, Box 25
Your Comcast bill is a tax write-off. You need internet to do your job!
