iversonyin
Diamond Member
- Aug 12, 2004
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I'm single and I have a parttime job for the last year. I made over $5k. Should I file separately from my family? If so, this would be my first year and i am completely clueless
Originally posted by: iversonyin
I'm single and I have a parttime job for the last year. I made over $5k. Should I file separately from my family? If so, this would be my first year and i am completely clueless
Originally posted by: slycat
Bought and sold a house last year(bought in july, sold in september). Made a little loss due to a $25k renovation bill. Would i be required to send the bill to IRS? Any complications in tax filing that i should be careful of?...i am trying out taxcut software(state and deluxe) so i wanna do taxes my myself.
thanks.
Originally posted by: Insane3D
Quick question on e-filing. I used Turbo Tax's online version last year, and as of now, I'm probably going to use it again this year. I don't itemize, and when I file, it's usually using the 1040EZ form and I get my refund. What is the cheapest way to e-file a 1040EZ type return? Turbo Tax online seems to be $20, and TaxCut online is $30...anything cheaper out there?
Originally posted by: xospec1alk
My company requires me to travel to a client site. They give me .15 cents a mile but i hear the federal rate or something is 39 cents, and i should be able to get that money back. is that correct? Also, my work also required that I buy a car for the job and was pretty much stipulated that if i did not have a car i would not be hired, so i bought a car. any way to write that off or something? cuz i really didn't need one until i got this effing job...
If your employer uses a non?accountable plan to reimburse you for the expenses, the reimbursements should be included in your wages. Your employer will combine the amount of any reimbursement or other expense allowance paid to you under a non?accountable plan with your wages, salary, or other compensation and report the total on your Form W?2. Your employee business expenses may be deductible as an itemized deduction.
Generally, if you are an employee, to deduct your car expenses including expenses that exceed reimbursement under an accountable plan, you must complete Form 2106 or Form 2106-EZ and itemize your deductions on Schedule A of Form 1040. Your expenses will be subject to the 2% of adjusted gross income limit.
Originally posted by: amish
business use of car.
first, i have a question. do you travel from your home to a job site, and is that job site a permanent one or temporary?
second, is the car used for anything other than on the job travel? if so, only the costs associated to those miles can be deducted.
ok, lets say that it is a temporary job site and for the sake of ease you only use the car for business travel. you can deduct all the costs associated with the car one of two ways. the standard mileage rate of 37.5 cents or the actual costs (with receipts) of maintaining the vehicle. you have a possiblity to get a larger deduction by using actual costs but the standard rate is much easier.
now, you have to worry about which type of reimbursement plan your employer uses. if they use an accountable plan everything is written down and you are fully reimbursed. since you didn't mention anthing like this i am going to assume that they use a non-accountable plan.
If your employer uses a non?accountable plan to reimburse you for the expenses, the reimbursements should be included in your wages. Your employer will combine the amount of any reimbursement or other expense allowance paid to you under a non?accountable plan with your wages, salary, or other compensation and report the total on your Form W?2. Your employee business expenses may be deductible as an itemized deduction.
ok, now we go on to the filing that you must do in order to claim the deduction.
Generally, if you are an employee, to deduct your car expenses including expenses that exceed reimbursement under an accountable plan, you must complete Form 2106 or Form 2106-EZ and itemize your deductions on Schedule A of Form 1040. Your expenses will be subject to the 2% of adjusted gross income limit.
unfortunately i am not too sure on what to say about your vehicle maybe another member will comment on it. anyways, hope this helps.
amish
Originally posted by: iversonyin
I'm single and I have a parttime job for the last year. I made over $5k. Should I file separately from my family? If so, this would be my first year and i am completely clueless
Originally posted by: amish
Originally posted by: Insane3D
Quick question on e-filing. I used Turbo Tax's online version last year, and as of now, I'm probably going to use it again this year. I don't itemize, and when I file, it's usually using the 1040EZ form and I get my refund. What is the cheapest way to e-file a 1040EZ type return? Turbo Tax online seems to be $20, and TaxCut online is $30...anything cheaper out there?
free file. basically a tax software company provides free services and filing. the company will probably offer other services but you are under no obligation to buy the said services. in your case, hopefully you will be able to get by on the bare minimum and not pay a dime.
Originally posted by: TechBoyJK
Here's my question. I worked only as an independant contract partimte for 2004. I made about $15,000 for the year. I spent alot of money in gas getting to and from the project, etc. What is the cap on the amount of gas expense I can claim? What else can I claim? What forms do I need to fill out?
Originally posted by: amish
Originally posted by: Insane3D
Quick question on e-filing. I used Turbo Tax's online version last year, and as of now, I'm probably going to use it again this year. I don't itemize, and when I file, it's usually using the 1040EZ form and I get my refund. What is the cheapest way to e-file a 1040EZ type return? Turbo Tax online seems to be $20, and TaxCut online is $30...anything cheaper out there?
free file. basically a tax software company provides free services and filing. the company will probably offer other services but you are under no obligation to buy the said services. in your case, hopefully you will be able to get by on the bare minimum and not pay a dime.
Originally posted by: EagleKeeper
Originally posted by: amish
Originally posted by: Insane3D
Quick question on e-filing. I used Turbo Tax's online version last year, and as of now, I'm probably going to use it again this year. I don't itemize, and when I file, it's usually using the 1040EZ form and I get my refund. What is the cheapest way to e-file a 1040EZ type return? Turbo Tax online seems to be $20, and TaxCut online is $30...anything cheaper out there?
free file. basically a tax software company provides free services and filing. the company will probably offer other services but you are under no obligation to buy the said services. in your case, hopefully you will be able to get by on the bare minimum and not pay a dime.
Also take a look at the size of your refund. If it is not worth the cost of e-filing, consider paper.
If you have a simple return and are getting a large rfund, consider changing your withholding to keep more $$ in your pocket dureing the year.
Originally posted by: Viper GTS
My taxes are a little complicated this year, I'll take any free advice:
I lived and worked in Oregon until June of 2004. I have lived and worked in PA since June, but have never established residency in PA (I will most likely be returning to Oregon in a few months).
I had two jobs in Oregon in 2004, I quit both in late June. I paid PA state taxes on income since late June (from my new job). In July I received two 401k distributions from two different plans (no state or federal tax withheld). Both were from contributions made from the same company (in Oregon). In addition I have interest from banks in both states (just a few $).
What state returns should I file, & what should be reported on each?
Viper GTS
Originally posted by: Insane3D
Originally posted by: EagleKeeper
Originally posted by: amish
Originally posted by: Insane3D
Quick question on e-filing. I used Turbo Tax's online version last year, and as of now, I'm probably going to use it again this year. I don't itemize, and when I file, it's usually using the 1040EZ form and I get my refund. What is the cheapest way to e-file a 1040EZ type return? Turbo Tax online seems to be $20, and TaxCut online is $30...anything cheaper out there?
free file. basically a tax software company provides free services and filing. the company will probably offer other services but you are under no obligation to buy the said services. in your case, hopefully you will be able to get by on the bare minimum and not pay a dime.
Also take a look at the size of your refund. If it is not worth the cost of e-filing, consider paper.
If you have a simple return and are getting a large rfund, consider changing your withholding to keep more $$ in your pocket during the year.
I'm getting about $850 back this year. I would rather leave it like I have it and get a refund each year.
Edit:
Also, I have no state income tax or sales tax in my state...if that expands my choices for online e-filing. I just need federal done.