Tax Question

[GrnBay007]

Because around here they couldn't touch a place for that. Besides, he didn't mention sharing it with 4 people before I typed that.

Pretty confident that you know he's not there.

Sounds like You pay a lot more there. Actually for where he was going to school before moving, I'm pretty confident he could have gotten a small apartment by himself for $400

[Partial]

Because around here they couldn't touch a place for that. Besides, he didn't mention sharing it with 4 people before I typed that.

At Platteville it was 234 a month but that was a real shit hole. I mean absolutely horrible.

[Deputy Nutz]

Go to an accountant that come up with ways to itemize some deductions. I am sure you donated some of your used underwear, and other clothes.

[the_idle_threat]

I'm definitely no accountant, but my understanding is that there's a pretty big deduction for having higher education expenses during the year. Might be worth going to an accountant or at least running it through some tax prep software to see if they come up with something like this.

I went to an accountant last year for the first time, and he came up with a pretty major deduction based upon higher education expenses. I don't remember if it was Federal, State, or both, though.

[Partial]

I should get that deduction as well as a personal expense deduction. So, I won't owe nearly as much as I thought. Probably only around 700. After that 300 dollar rebate, that will be 400ish, then. That doesn't sound nearly as bad as the 1400 figure from last night!

[Tyrone Bigguns]

Because around here they couldn't touch a place for that. Besides, he didn't mention sharing it with 4 people before I typed that.

That is pretty much assumed when you are in college. If you can remember that far back. :P

[Partial]

Alright, Turbo Tax calculated that I owe 612 dollars. Nice!

With my state tax return and that 300 dollar credit going to everybody, I really won't owe anything at all. Sha-wing!

[hoosier]

Alright, Turbo Tax calculated that I owe 612 dollars. Nice!

With my state tax return and that 300 dollar credit going to everybody, I really won't owe anything at all. Sha-wing!

Don't forgot to factor in your penalties for failure to declare sufficient withholdings. The IRS doesn't want your money in April, they want it as soon as you earn it.

[Deputy Nutz]

I should get that deduction as well as a personal expense deduction. So, I won't owe nearly as much as I thought. Probably only around 700. After that 300 dollar rebate, that will be 400ish, then. That doesn't sound nearly as bad as the 1400 figure from last night!

When you work at Sears do you wear your own clothes, or do you have to wear a store uniform that is provided for you? Otherwise if you wear your own clothes and there is a requirement with what kind of clothes you are supposed to wear you can claim the price of those clothes as a deduction.

[Partial]

I should get that deduction as well as a personal expense deduction. So, I won't owe nearly as much as I thought. Probably only around 700. After that 300 dollar rebate, that will be 400ish, then. That doesn't sound nearly as bad as the 1400 figure from last night!

When you work at Sears do you wear your own clothes, or do you have to wear a store uniform that is provided for you? Otherwise if you wear your own clothes and there is a requirement with what kind of clothes you are supposed to wear you can claim the price of those clothes as a deduction.

Nice! I should hit all these small deductions up for all they're worth.

[retailguy]

I should get that deduction as well as a personal expense deduction. So, I won't owe nearly as much as I thought. Probably only around 700. After that 300 dollar rebate, that will be 400ish, then. That doesn't sound nearly as bad as the 1400 figure from last night!

When you work at Sears do you wear your own clothes, or do you have to wear a store uniform that is provided for you? Otherwise if you wear your own clothes and there is a requirement with what kind of clothes you are supposed to wear you can claim the price of those clothes as a deduction.

Nice! I should hit all these small deductions up for all they're worth.

<sigh>... Not exactly. The "spirit" of this rule has been so abused over the years, it no longer works out this way. Partial, if you haven't been forced to buy your own clothes and put Sears patches all over them, or if your tie doesn't have a blinking light Sears logo, they probably aren't deductible.

So, if you are "required" to buy suits, shirts and ties that are "suitable" for outside work wear, you CANNOT deduct them. If they are "altered" (ie, patches, logos, etc) to make them "unfit" for normal wear outside work, THEN, and only then are they deductible.

Besides, this deduction is taken on Schedule "A" (Itemized Deductions) and these items are only deductible in excess of 2% of your adjusted gross income.

In simple english, Partial, you get a $5350 standard deduction. You'd have to itemize deductions in excess of this amount, first and foremost, THEN, you have to have suitable employee business expenses that exceed 2% of your adjusted gross income, to BEGIN to see a benefit here. Other examples are safe deposit boxes, union dues, professional dues, etc....

In short, your 'clothing allowance' is factored into the $5350... but hey, it sounded good, right? :P

[Deputy Nutz]

Here is an idea, get a felt tipped marker and write SEARS on a couple of shirts. Not to hard.

RetailGuy is more interested in the letter of the law, I am trying to save you some dollars.

[retailguy]

Here is an idea, get a felt tipped marker and write SEARS on a couple of shirts. Not to hard.

RetailGuy is more interested in the letter of the law, I am trying to save you some dollars.

Saving dollars today doesn't really matter to me, if you lose them two years from now, plus a $5000 fraud penalty and interest as well.

I'm very interested in saving $'s for Partial too, it just matters to me whether it is MORAL or LEGAL.

Partial, you better also "alter" the employee manual to add a procedure that says it is Sears procedure to stencil the sears logo with a felt tip marker. Those bastards at the IRS are trained to ask for that too.

[Deputy Nutz]

He is little concern to the IRS.

[Zool]

He is little concern to the IRS.

(waving hand) These are not the tax evaders you are looking for