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 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.