Question

Bruce's birthday is June 27, 1962. They live at 473 Revere Avenue. Ames, MA 01850.  Bruce is the manager of a Super Burger fast-food outlet owned and operated by Plymouth Corporation, 1247 Central Avenue, Hauppauge, NY 11788 (employer identification number 11-1111111).

-Bruce paid $300 for an annual subscription to the Journal of Franchise Management $700 for annual membership dues to his professional association.

Are the above tax-deductible? Why or why not?

Answer 1

Membership dues for trade unions or public servant associations may be deducted on income tax returns.              
Professionals who are required by law to pay dues for professional boards or parity or advisory committees may also deduct those fees. Only union membership dues are deductible, and union members may not deduct initiation fees,licenses or other charges. The amount taxpayers may deduct is shown on their T4-form, Statement of Remuneration Paid.              
              
Subscriptions to magazines, newspapers, journals, newsletters, and similar publications can be a deductible expense. This includes Internet-based subscriptions for websites. However, due to changes in the tax laws brought about by the Tax Cuts and Jobs Act, they are deductible only if purchased for a business.              
              
Other Subscriptions Are Not Deductible              
Before 2018, it was possible to deduct subscriptions even if they were not purchased for a business. For example:              
subscriptions to investment newsletters or magazines were deductible as an investment expense.              
              
if you worked as an employee and you subscribed to publications useful for your work and your employer did not reimburse you for the cost, you could deduct the cost as an unreimbursed employee expense              
if you were looking for a job and you subscribed to publications to aid you in your search, you could deduct the expense as a job search expense, and              
if you had a hobby for which you subscribed to a publication, the cost was deductible against any income you earned from the hobby.