tax writeoffs

[dobry4u]

Life would be so much simpler if we went to a flat tax with no deductions. Perhaps a 5% tax would be good.

one size fits all... bullock

[jd112488]

lets make this easy...ANYTHING that you purchase that is used for work and not reimbursed by the company is deductible. so anything that you buy and think you can get away with claiming for work usage flies...but remember that you can be audited 7 years back. it just depends how far into the gray areas of the tax laws you are willing to go.

[dobry4u]

lets make this easy...ANYTHING that you purchase that is used for work and not reimbursed by the company is deductible. so anything that you buy and think you can get away with claiming for work usage flies...but remember that you can be audited 7 years back. it just depends how far into the gray areas of the tax laws you are willing to go.

You can be reviewed further back than that.

And your board statement of anything you use for work is deductible is quite naive.

[jd112488]

ok...point still stands..except for the 7 year thing. better??

[dobry4u]

ok...point still stands..except for the 7 year thing. better??

Not really... the IRS will not allow "everything you bought" for work as a deduction and rules relate if you file a schedule a or schedule c.

[dobry4u]

Other job-related expenses (other than meals, lodging and incidentals) are ordinary and necessary expenses related to your occupation.

As Rev said, use Publication 463 and also you may find Publication 529 helpful.

[Jumbo]

Other job-related expenses (other than meals, lodging and incidentals) are ordinary and necessary expenses related to your occupation.

As Rev said, use Publication 463 and also you may find Publication 529 helpful.

I knew the number nerd would be able to straighten us out when it comes to taxes. She is sharp.

[Syncrosonix]

so then $200 worth of trojan condoms aren't going to be deductible? DAMMIT!

[Double R]

so then $200 worth of trojan condoms aren't going to be deductible? DAMMIT!

Neither is the cost for lot lizards!

[Syncrosonix]

Neither is the cost for lot lizards!

shhhhhhhhhhhhhhh!

[Double R]

shhhhhhhhhhhhhhh!

You tried to write them off too I take it?

[Syncrosonix]

You tried to write them off too I take it?

for entertainment value only. i'm working on a video series called "skank fights".

[Jumbo]

Neither is the cost for lot lizards!

Rather then classify them under "skanks who bump uglies with me" you should try "Theraputic Massage" I wrote off $15,000 worth last year and nobody questioned it at all.

[franwake13]

lets say a general number for someone just starting out..... say you make 35,000 this year, with all right offs and all what do u think the return would be? im thinkin alot because i save receipts for everything becides meals

[Rev.Vassago]

lets say a general number for someone just starting out..... say you make 35,000 this year, with all right offs and all what do u think the return would be? im thinkin alot because i save receipts for everything becides meals

Impossible question to answer. Everyone's situation will be completely different.

[franwake13]

idk im just hopin for a big return this year

[jd112488]

i get a 1099. i made 60,000..showed a net profit of 28,000. family of 5. sole provider. i paid nothing. and i qualified for food stamps. but i dont know what i am talking about...or so i hear.