Who Must File Form 2106?

Employee Business Expenses

Employees can claim deduction for unreimbursed  expenses for their field of trade, business or profession, provided there are records to prove time,amount, place, business purpose and business relationship. Generally, it is required to have receipts for all lodging expenses (regardless of the amount) and any other expense of $75 or more.

Standard Mileage Rate for 2011

The 2011 rate for business use of the vehicle is 51 cents a mile.

Depreciation limits on vehicles for 2011

For most vehicles, first-year limit special depreciation allowance and section 179 deduction is $11,060.

For trucks and vans, first-year limit special depreciation allowance and section 179 deduction is $11,260.

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Who Must File Form 2106