Hey Im new to the trade and I was wondering since one of my friend in my class told me. Could you get a tax exempt/refund/rebate/etc for listing your tools and tool boxes if your in the trade? Thanks!
You can get a tax deduction for tools you use in your trade. The catch is you have to use them at your work and so the pile at home isn't tax deductible.
I also recently found out that I can claim my work boots as a deduction and my ridiculous book bill for school.
It gets complicated. You can deduct for nonreimbursed job expenses, however tools and other large priced items need to be capitalized (the expense deduction spread over several years)
