The IRS Deductions Blog

Archive for the ‘Mileage Tax Deductions’ Category

Items on Amazon Right Now for Federal Tax Mileage Deduction:

Items on Amazon Right Now for Deductible Mileage:

Items on Amazon Right Now for Tax Deduction For Mileage 2009:

Items on Amazon Right Now for Allowable Tax Deduction For Mileage:

HMRC Guide: Self-Employed Childminders

Question: Tax calculation and deduction help?!?!?

am interested in learning how to calculate my own Tax Deductions. I have some, I know that are deductible (i.e. daycare, mileage to and from work, student loans, gas receipts). I would like to find out if there is a way that I can calculate this to see what I might be getting back from taxes. My husband is military and he and I are planning on using his mileage and gas receipts as well for his commutes while he was TDY.

P.S. I was self-employed until July 2008 and I am a home-owner. If this helps any.

Thanks.

Answer: For daycare and student loan interest, you don’t even have to itemize. If you qualify for a child care credit, and you probably do, you fill out form 2441 with your return.

If you are paying on a student loan. you can probably deduct some or all of the interest you paid for the year, and again this has nothing to do with itemizing. You deduct it in the Adjustment section at the bottom of page 1 of your form 1040 or 1040A.

Gas or mileage expenses (it’s one or the other, not both) get more complicated. Commuting expenses, mileage to and from work, are NOT deductible so you are out of luck there.

Without knowing what Itemized Deductions you might have, hard to be more specific on how to fill out Schedule A. On a joint return, you get a standard deduction of $10,900, so there’s no point in itemizing unless your itemized deductions are more than that.

Your self employment income will introduce some complexity to your return also.

Items on Amazon Right Now for Tax Deduction For Mileage 2008:

QueerTango Café: Exchange of Lead and Follow Roles