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Employee business expenses can be deducted as an adjustment to income only for specific employment categories and eligible educators. Taxpayers can no longer claim unreimbursed employee expenses as miscellaneous itemized deductions, unless they are a qualified employee or an eligible educator.
New Jersey does not allow federal deductions, such as mortgage interest, employee business expenses, and IRA and Keogh Plan contributions. Full-year residents can only deduct amounts paid during the tax year.
New Jersey's state employers have been under a salary history ban since Feb. 1, 2018. It prohibits state entities from inquiring into a job applicant's current or previous salaries until the organization has made a conditional offer of employment and provided its compensation package.
New Jersey does not allow you to deduct moving expenses or employee business expenses from wages, although you can exclude reimbursements for certain expenses if they are included in wages on your W-2.
How long should I keep employee personnel files? You should keep an employee's personnel files for six years after the employee has left your organisation. The reason for this is that up until six years has passed, the former employee may sue you for breach of contract in the county court.
Federal and State law dictate how long employers must retain certain employee related records. For instance, Form I-9 should be retained for either three (3) years after the date of hire or for one (1) year after employment is terminated, whichever is later.
A deduction can be claimed for any expense that meets the 'wholly, exclusively and necessarily' test. Examples include professional fees and subscriptions, travel and subsistence costs, additional costs of working from home, cost of repairing tools or specialist clothing, phone calls, etc.
New Jersey does not allow you to deduct moving expenses or employee business expenses from wages, although you can exclude reimbursements for certain expenses if they are included in wages on your W-2.
Are unreimbursed employee expenses deductible in 2020? The vast majority of W-2 workers can't deduct unreimbursed employee expenses in 2020. The Tax Cut and Jobs Act (TCJA) eliminated unreimbursed employee expense deductions for all but a handful of protected groups.
The employer must keep the wage and hour records described above for a period of six years. The employer must keep the wage and hour records described above at the place of employment or in a central office in New Jersey.