A Must Know If You’re a W2 Employee

Jul 27, 15 • Loan ProgramsNo Comments

A Must Know If You’re a W2 Employee

2106 Expenses. You may not know them by this name, but you might have them if you’re a W2 employee. And if you’re a W2 employee with 2106 expenses, they may be having a serious impact on your qualifications for financing. That is, until now.

2106 Expenses2106 expenses, also referred to as “Unreimbursed Employee Expenses” are write offs for things that are often required for a W2 employee to do their job, but is not covered by the employer. A couple examples of these are; Union Dues, Purchasing and Cleaning of Uniforms, Business Phones, Laptops, etc.

Until just recently, these write offs were deducted from your income. And in a lot of cases, they ended up having a serious impact on your qualifications. Of course there are a couple caveats to this exception, so if you want the full story, e-mail me at Scott@GReenMeansGrow.com, and I’ll tell you everything you need to know about these write-offs and how they play into your finance qualifications.

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