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Penalty
I was penalise for being on strike that was called by my union.according to the tayalor law,it is 2days pay for every day on strike.is there any way I can reduse my taxable income by the amount of penalty.
I believe it is a cost of doing business(work).I don't know if my logic will fly.Or Where on the tax form to deduct the amout which 32 days of pay. I glad that I am able to communicate with so many experts. Karen |
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Karen:
Sorry, but, In my opinion, that will not fly. The penalty of which you speak (two days pay for every day on strike) is a punitive fine similar to the fine for a traffic ticket that a cab driver would pay. The argument you gave about it being "a cost of doing business" would apply to the cab driver as well, yet he/she is not allowed to deduct the traffic fines they receive as a result of the ticket. If you could deduct it, it would be an employee business expense that is claimed on Schedule A under miscellaneous deductions. I do NOT recommend making such a deduction, however. |
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