yeeupp
Banned
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Im an ice cream tattoo on my face !!!
TAX SEASON APPRECIATION!!! What are you doing with your withheld money?
- Thread in 'General' Thread starter Started by humpasaurus rex,
- Start date
yeeupp
Banned
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Im an ice cream tattoo on my face !!!
- 95
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- Oct 10, 2005
worthless without the lighting bolts!
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worthless without the lighting bolts!
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- Nov 15, 2001
folks that have their own business or work from home , chime in please ?
i work from home once or twice a month, soon i will be working from home 5 days a week.
my company wont reimburse me , what are things i can deduct from my tax's ?
i purchased a fax/copier , i pay the phone & cable , rent etc
i work from home once or twice a month, soon i will be working from home 5 days a week.
my company wont reimburse me , what are things i can deduct from my tax's ?
i purchased a fax/copier , i pay the phone & cable , rent etc
- 3,380
- 11
- Joined
- Nov 15, 2001
folks that have their own business or work from home , chime in please ?
i work from home once or twice a month, soon i will be working from home 5 days a week.
my company wont reimburse me , what are things i can deduct from my tax's ?
i purchased a fax/copier , i pay the phone & cable , rent etc
i work from home once or twice a month, soon i will be working from home 5 days a week.
my company wont reimburse me , what are things i can deduct from my tax's ?
i purchased a fax/copier , i pay the phone & cable , rent etc
- 4,597
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- Dec 13, 2003
lulz....Originally Posted by Cicero Avenue Dopeman
dont do taxes but it be jammin durin tax season, ima get my jumpoff a new wardrobehave ma look right this year
Everyone is saying invest. As in stock? How much are you all anticipating getting back? I would imagine that a couple thousand would not even be worth it.
- 4,597
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lulz....Originally Posted by Cicero Avenue Dopeman
dont do taxes but it be jammin durin tax season, ima get my jumpoff a new wardrobehave ma look right this year
Everyone is saying invest. As in stock? How much are you all anticipating getting back? I would imagine that a couple thousand would not even be worth it.
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Everything.
Make sure that you keep receipts for everything related to office supplies and running the business.
If your job calls for you to meet with clients- dry cleaning, meals, gas, even the vehicle itself.
Make sure that you get a professional to help you maximize your return.
- 7,932
- 6,361
- Joined
- Jan 19, 2005
Everything.
Make sure that you keep receipts for everything related to office supplies and running the business.
If your job calls for you to meet with clients- dry cleaning, meals, gas, even the vehicle itself.
Make sure that you get a professional to help you maximize your return.
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- Feb 2, 2010
Clothes.
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- Feb 2, 2010
Clothes.
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- Dec 28, 2004
BRRRR
Cicero Avenue Dopeman wrote:
dont do taxes but it be jammin durin tax season, ima get my jumpoff a new wardrobehave ma look right this year
I PRAY youre joking.
- 18,903
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BRRRR
Cicero Avenue Dopeman wrote:
dont do taxes but it be jammin durin tax season, ima get my jumpoff a new wardrobehave ma look right this year
I PRAY youre joking.
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- Mar 6, 2007
how much u get if u claim someone?
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how much u get if u claim someone?
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- Dec 20, 2008
Are you self-employed or are you just working from home? It is a huge distiction (unreimbursed employee expenses are below the line as misc itemized deduction subject to the 2% floor while being self employed it goes above the line as part of schedule C
And don't listen to this !%!@!+* who said everything. I'll await your thread about receivng a letter from the IRSYou deduct your rent, you're getting an automatic letter from the IRS and that's gonna get overturned for sure. IF you deducted rent for your office (and you can only deduct rent attributable to your office) and you have one piece of non business related stuff in that room when they come visit, boom your entire deduction denied. The home office deduction isn't worth the hassle.
Meals and entertainment are 50% since there is some personal benefit to meals.
Dry cleaning,
Vehicle- It's listed property you have to determine how much is for business use versus personal use. You need to keep a log of this should the IRS contest. There are depreciation tables for cars (a luxury limit) you'd get a percentage based on how much is for business use.
I'd really recommend meeting with a professional if you are really unsure (which I'm positive you are since you're asking NT for advice).
- 2,950
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- Joined
- Dec 20, 2008
Are you self-employed or are you just working from home? It is a huge distiction (unreimbursed employee expenses are below the line as misc itemized deduction subject to the 2% floor while being self employed it goes above the line as part of schedule C
And don't listen to this !%!@!+* who said everything. I'll await your thread about receivng a letter from the IRSYou deduct your rent, you're getting an automatic letter from the IRS and that's gonna get overturned for sure. IF you deducted rent for your office (and you can only deduct rent attributable to your office) and you have one piece of non business related stuff in that room when they come visit, boom your entire deduction denied. The home office deduction isn't worth the hassle.
Meals and entertainment are 50% since there is some personal benefit to meals.
Dry cleaning,
Vehicle- It's listed property you have to determine how much is for business use versus personal use. You need to keep a log of this should the IRS contest. There are depreciation tables for cars (a luxury limit) you'd get a percentage based on how much is for business use.
I'd really recommend meeting with a professional if you are really unsure (which I'm positive you are since you're asking NT for advice).
- 2,950
- 10
- Joined
- Dec 20, 2008
The exemption is a 3,750 deduction
- 2,950
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- Dec 20, 2008
The exemption is a 3,750 deduction
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- May 3, 2003
Which is to say, you can imagine your taxes as if you earned $3,750.00 less than you actually did. so if you earned $43,750.00, you would actually only have to pay taxes on $40,000.00.
Similar to itemized deductions, if you know your tax rate, you can multiply your tax rate by the standard deduction (hypothetical: 6% tax rate x $3,750.00 = $225.00. This example would mean that you would be paying $225.00 less for taxes than someone who does not have a dependent exemption, so if you already had the correct amount of taxes withheld for NOT claiming a dependent, you would get an extra $255.00 back)
*at the federal level.
There may be some differences between states.
- 610
- 130
- Joined
- May 3, 2003
Which is to say, you can imagine your taxes as if you earned $3,750.00 less than you actually did. so if you earned $43,750.00, you would actually only have to pay taxes on $40,000.00.
Similar to itemized deductions, if you know your tax rate, you can multiply your tax rate by the standard deduction (hypothetical: 6% tax rate x $3,750.00 = $225.00. This example would mean that you would be paying $225.00 less for taxes than someone who does not have a dependent exemption, so if you already had the correct amount of taxes withheld for NOT claiming a dependent, you would get an extra $255.00 back)
*at the federal level.
There may be some differences between states.
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- Jan 19, 2002
wassup gucci?
- 23,342
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wassup gucci?
cubanref
Supporter
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- Aug 9, 2004
Can I deduct my metro card and cell phone bill from my taxes? Would they be considered a business expense or personal use? I spend so much money on those two things all year long because of work lol. I know it probably wouldn't be worth it but I was just wondering...
