For employees, the cost of daily transportation to and from work can add up. Whether you drive your own car or take a bus, train or ferry to your regular place of employment, chances are you’ve wondered whether or not your commuting expenses were tax deductible.
Here’s what the IRS says:
No matter how far your home is from your regular place of work, you cannot deduct commuting expenses. The rationale is that commuting expenses arise from an individual’s personal preference to live away from their place of employment. Commuting is considered a matter of personal choice rather than a business requirement and is, therefore, not deductible.
Want to learn more? Call us at 732-739-2632 for a consultation. Our Certified Public Accountants are ready to help.