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Jason M. Tyra, CPA
Jason M. Tyra, CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 178
Experience:  Principal at Jason M. Tyra, CPA, PLLC
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In August of 2015, I was approached by a friend who was in

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In August of 2015, I was approached by a friend who was in the initial phases of spinning up a software start-up. He offered me a stake in the future company for providing my project management services. During this period, I incurred many expenses which included buying a new laptop, international phone calls, meals, driving to another town on a daily basis, etc.
In November of 2015, I got into a car accident when I was on my way to an event related to our start-up, and decided to back out of the venture in early January 2016 to take care of my health and other personal reasons.
Is there a way to deduct the expenses which I incurred during my short four month stint working for my friend's startup?
Submitted: 7 months ago.
Category: Tax
Expert:  Jason M. Tyra, CPA replied 7 months ago.
Hi Kamran:Based on what you've said here, you can probably deduct your expenses related to your employment as un-reimbursed employee business expenses. This is a miscellaneous deduction on Schedule A, which means that it is subject to a 2% of AGI floor.