 I have not filled out tax forms for awhile. Am I in BIG trouble? |
| My income tax refund was intercepted because of outstanding student loans. The following year, I had a back injury and couldn't work. I lived in low income housing and depended on a church food ... |
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 My mother hasnt gotten her stimulis check/rebate check from the IRS why? |
| she filed it on april 15, at the post office in providence Rhode Island and she hasnt gotten it and she hasent received a notice when it was coming.she was suppost to get it around the middle of june.... |
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 Can you deduct the interest paid on your home for the year before? |
| I went to H&R Block last year to get my taxes done and they told me I could not deduct the taxes or interest paid on my home because it was under $10,000 but I was told later that this was untrue.... |
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 Report winings to IRS taxes are how much? |
| OKay, I entered myself into a radio contest for a chance to win a 10,000 dollar shopping spree to a mall. Well, I know i'd have to report my winning to the IRS and pay taxes. I just want to know ... |
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 If UK was handed over to the EU completely ..........? |
| would the vast ammountof taxes be brought into line with EU policy.... |
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 Gambling winnings and state tax question? |
Okay, so gambling winnings must be declared as taxable income for federal and state taxes.
What happens if you happen to win a big prize on the exact same day you move from one state to ... |
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 I worked two jobs this year one job I only worked two months I haven't received my w2? |
| The job I worked 2 months on has closed down and I'm having a hard time obtaining my W's I only made 5500 dollars should I just scrap it?... |
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 Who should claim my new daughter me or my boyfriend? he worked and made 3K but i only worked 2 weeks?? |
| how does it work we live together but arent married i want the maxium amount back and will we get the EIC also?... |
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 If one was not employed but a full time student with a dependant, are you able to still do taxes? |
| Full time student throughout the whole year and did not work. I have a dependent and student loans. Will I still get a return like for the child tax credits and refund money for schooling?... |
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 How much would it cost to import better weather? |
As much as we pay in taxes, I would think we could use some of that money to get a better climate.
Maybe we could buy Hawaii's surplus weather. Has UK ever made them an offer?... |
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 I'm self-employed. If I make quarterly estimated tax payments, do they include Medicare and Social Security? |
Do I pay separately for Medicare and Social Security or is this included in a quarterly estimated tax payment?
Thanks!... |
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 What do you think about Bush's tax rebate plan? |
| I mean a check for $800 would be nice, but 150 billion dollars for a "shot in the arm" not sure how I feel about that. What do you think??... |
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 Is anyone with last two social #'s 66 having trouble on the irs.gov rebate tool? |
| just wondering why I still cannot get status on my rebate,some people with higher numbers are able to get it.... |
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 How do I find when email I received is a scam or real ? |
| Banks in HongKong is asking me to come there and pays more than 7,000 us dollars as taxes for the money I inherited to Mr rafik Hariri from Barclays Bank in London the amount is 36 million pounds ... |
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 Does the tax man come after Employed people the way he comes after Self-Employed people? |
| I have been self-employed and now am on the verge of becoming employed. I have heard that even though one can subtract more expenses related to one's work when he is self-employed, it is more ... |
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 Does anyone know how I can find the name and address of a top person with the accounting company HR Block? |
| After 20 years of never having a problem with HR Block I experienced a quite expensive and very unfair situation this year in NYC. I worked with the nicest woman who spent a lot of time preparing my ... |
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 We have 3 kids. Should we file Married filing Separately? |
| I was told we can only claim 2 children max. We wanted to file Married filing Jointly. We are in Florida Should we file Separately so we can claim all 3 kids?... |
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baebeecakes | If self-employed and using your car for work, can you claim? |
car insurance? My H&R Block preparer claimed it last year, but then the same one said we can't this year..and then, I said that we did last year and she just seem like she didn't know what she was doing.. |
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Count Your Blessings
|
When you want to deduct your auto expenses for work (other than commuting), you can choose to use the standard mileage rate (48.5 cents for 2007) or actual car expenses. If you chose the standard rate in a prior year it's generally best to stay with it as you'll then be switching to straight-line depreciation of the vehicle.
At any rate, if you chose the actual car expenses, then yes you can deduct insurance, depreciation, garage rent, gas, oil, lease payments, licenses, repairs, tires, parking, tolls, etc... But if you use the vehicle for both business and personal purposes, you have to divide the expenses based on the miles driven for each purpose and only the business portion (fraction) of the miles will result in a deduction.
Go back to H&R and ask the manager to get an experienced preparer to review and (if necessary) amend your return. This, of course, should be at no further expense to you.
Good luck! |
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Paul M
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You can claim your car, but you need to have receipts for gas and to write down mileage as you drive in a log to do it the right way. |
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mscarriem
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never and I mean never use h&R block they are by far these least educated tax people out there, go to someone who does taxes and accounting full time and is up with the laws, your person can be setting you up for an audit, I am self employed and right off everything to do with my car, miles gas insurance tires oil changes everything |
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taxreff
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Auto insurance can be included in auto expense if one uses the actual expense method. If using the standard mileage rate it is included as part of the 48.5 cents per mile for 2007.
As a side note, it is safe for those with with simple returns use a storefront tax preparation company. Self-employed individuals (and others with more complex returns) are usually better served by a professional who deals with those kind of situations on a regular basis. |
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Indi
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yes and oil change repairs mileage or gas but not both and another thing h&r block sucks!!! |
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Randall Parker, MBA
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Auto issues are an easy area for the IRS to attack in an audit. Most people do not log their business/personal use, and most people do not have adequate documentation to show their expenses either. Be careful in any event.
If the vehicle is used for both business and personal use, keep a log, so that you can properly apportion your business use of the vehicle. The proportionate deductions should be compared to the standard mileage deduction to see which would be of more benefit to the taxpayer.
All legitimate auto expenses, including repairs, fuel, tolls on business trips at 100%, insurance, and registration should be included in your calculation. Be careful on the registration, however.
For the auto registration, you can deduct the property tax portion on your personal return if you itemize. If the car is used for business, you can claim the full cost of registering the vehicle. When you have apportioned use, this can get a little bit hazy. Figure out which way will save you the most taxes, but be sure that you don't apportion the property tax portion on your Schedule C and ALSO deduct it in your itemizations. Claim it once, not twice.
If you use the vehicle 100% for business, and you have another vehicle available for personal use, that makes life a lot easier.
From a liability perspective, be sure that your insurance agent knows if you drive the vehicle in your business. If you do any kind of outside sales, using your vehicle, such as insurance, real estate, products, etc., you may have a greater exposure in an accident, and you could find yourself without coverage if your insurer did not know that you use the vehicle for business.
This doesn't necessarily mean that you have to have a commercial policy for your car, but discuss it with your agent.
Good luck! |
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Mark S
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You can deduct your car expenses in certain circumstances. You have to have a qualified home office to deduct your car expenses from home. A qualified home office is one that is used exclusively and regularly for business. If it doesn't meet this test, then no car expenses.
You can switch between actual expenses and standard mileage rate in different years IF you use the standard mileage rate in the first year. If you use actual expenses in the first year, then that is what you are stuck with.
Actual expenses include insurance, depreciation, maintenance, tires, auto club, car washings, oil changes, etc.
You have to keep a log of your mileage - both business and personal to determine your business %. Your auto expense will be your total expenses times your business %.
mscarriem never, I repeat NEVER lump all H R Block preparers together, some are good and some are bad just like there are good CPAs and bad CPAs. |
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Emmy
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Not the car insurance, unless your car is registered under the business, and not directly too you.
You can declare milage, and I believe car repairs.
I would ask for another person. Some of the people at H&R block aren't that good, and it is scary when they don't agree. |
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Rose
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My husband is self employed and has two different businesses we use one car for both. How should I calim the vehicle expenses? Can I claim the same vehicle twice for the separate miles? |
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