tax writeoffs

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  #21  
Old 08-05-2009, 05:16 AM
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Originally Posted by GMAN
Life would be so much simpler if we went to a flat tax with no deductions. Perhaps a 5% tax would be good.:thumbsup:

:hellno: :hellno: :hellno: :hellno: :hellno: :hellno: :hellno: :hellno: :hellno: :hellno:

one size fits all... bullock
 
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  #22  
Old 08-05-2009, 05:32 AM
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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.
 
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  #23  
Old 08-05-2009, 05:46 AM
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Originally Posted by 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.

:thumbsdown::thumbsdown::thumbsdown::thumbsdown:

You can be reviewed further back than that.

And your board statement of anything you use for work is deductible is quite naive.
 
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  #24  
Old 08-05-2009, 05:50 AM
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ok...point still stands..except for the 7 year thing. better??
 
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Old 08-05-2009, 06:03 AM
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Originally Posted by jd112488
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.
 
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  #26  
Old 08-05-2009, 06:26 AM
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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.
 
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Old 08-05-2009, 10:30 AM
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Originally Posted by 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.
I knew the number nerd would be able to straighten us out when it comes to taxes. She is sharp.
 
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  #28  
Old 08-05-2009, 10:37 AM
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so then $200 worth of trojan condoms aren't going to be deductible? DAMMIT!
 
  #29  
Old 08-05-2009, 10:45 AM
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Originally Posted by Syncrosonix
so then $200 worth of trojan condoms aren't going to be deductible? DAMMIT!
Neither is the cost for lot lizards!:rofl:
 
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  #30  
Old 08-05-2009, 10:49 AM
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Originally Posted by Double R
Neither is the cost for lot lizards!:rofl:
shhhhhhhhhhhhhhh!
 

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