The IRS Deductions Blog

Posts Tagged ‘2010’

Question: Is gasoline used for college commute deductible on taxes?

Do i need all of the receipts?
Is that my deduction or my parents? (Yes i pay for it)

Answer: If it is not work related then you barking up the wrong tree here. Good luck with school but you dont have a good deduction there

Items on Amazon Right Now for Tax Deduction Commuting:

Get ready to pay tax on LTA as Bill stays mum on allowance

The Direct Taxes Code Bill has brought some bad news for salaried employees eligible for leave travel allowance. The proposed tax law’s silence on the allowance is taken as an indication that the LTA may now come under the tax net.

Since I’m a Temp Contractor, Can I Deduct Mileage to Work?

Items on Amazon Right Now for Standard Deduction And Personal Exemption:

How Will The Expiring Bush Tax Cuts Affect You?

Find out which expiring tax cuts might cost you money if Congress doesn’t extend them.

Chicken Noise Family guy chicken noise fartsca sweaty balls

Items on Amazon Right Now for Tax Deductible Home Improvements 2009:

Shaw Announces Third Quarter Financial and Operating Results

CALGARY, ALBERTA–(Marketwire – June 30, 2010) – Shaw Communications Inc. (TSX:SJR.B) (NYSE:SJR) announced results for the third quarter ended May 31, 2010. Consolidated service revenue for the quarter and year-to-date periods of $944 million and $2.78 billion, respectively, was up 10% over each of the comparable periods last year. Total service operating income before amortization(1) of $436 …

Credit Cards & Personal Loans : Are Home Improvement Loans Tax Deductible?

Question: Delivery Driver Tax Deductions?

I have driven 32,512 miles in 2009 for delivery.
I have a detailed mileage report of my starting miles, and ending miles each day.

Using turbo tax deluxe i am getting NO refund whatsoever when putting this data in.
I even put crazy high numbers to see what would show up, and no change….

Did some laws change or what gives?
Last year it was only like a 500$ difference, but 500$ helps alot when you spend 2,680$ on gas in 1 year….

USA, Texas, Travis county, Austin
about 16,000$ a year.
+ 4,000$ in tips

Filing single.
New home owner (got that 8k for me)
No dependents…
tips ARE reported by my employeer
So they are “added” to my paycheck, thus taxed. Then the tip is deducted from my check so i dont get double tiped

Answer: If you take the IRS standard mileage rate of 54.5 cents per mile that will be OK and you won’t have to keep track of other expenses. I’ll bet that after doing this you will find you are working for free..

http://www.taxdeductionsbenefit.com/

Items on Amazon Right Now for 2009 Tax Mileage Deduction:

ARRL Board Considers Celebrations, Changes and Conferring of Awards at 2010 Second Meeting

The ARRL Board of Directors held its Second Meeting of 2010 July 16-17 in Windsor, Connecticut, under the chairmanship of President Kay Craigie, N3KN. International Amateur Radio Union (IARU) Secretary Rod Stafford, W6ROD, and Radio Amateurs of Canada (RAC) President Geoff Bawden, VE4BAW, were guests of the Board. At the two-day meeting, the Board considered a number of reports and acted on sev…

Current Allowable Automobile Mileage Tax Deduction 2009, 2010

Question: Can you send the IRS money directly without using payroll deduction?

This year we made some extra income via dividends and capital gains via stock sales. This led to a fairly substantial amount of extra income which threw our withholding off. We did try to estimate our tax to basically avoid a penalty for being underwithheld by using a company affiliated with the IRS (got to the company via the IRS website) to pay our estimated tax.

Is it possible to send a check directly to the IRS and avoid having to pay the service fees associated with this?

Answer: Yes just download the Estimated Tax Form and send in quarterly payments
Can be done for both the Federal and State. Properly can even do it online using an echeck

Items on Amazon Right Now for Tax Deduction Estimate:

Quicken – Home & Business 2012 $54.50 Now organize your personal and your home based business finances, all in one place with the Quicken® Home and Business 2012 from Intuit®. This software categorizes your personal and home business expenses so you know where your money is going. It shows your profit and loss at a glance, so you know how your home based business is doing at any time. Also, create professional looking invoices, esti…

Tax deductions: further estimates of taxpayers who may have overpaid federal taxes by not itemizing $14.13 Original publisher: Washington, D.C. : U.S. General Accounting Office, [2002] OCLC Number: (OCoLC)53404373 Subject: Income tax deductions — United States. Excerpt: … Appendix: Methodology for Estimating the Number of Returns on Which Taxpayers Overpaid Taxes by Not Itemizing Deductions income class and imputed this class average to each nonitemizer in the same income class in the SOI sample…

Treatment of certain reimbursed flight training expenses : report (to accompany H.R. 1168) (including cost estimate of the Congressional Budget Office) (SuDoc Y 1.1/8:102-693) …

Who benefits from marriage penalty and child tax credit relief in H.R. 6: Estimates by state and congressional district (Report of the Heritage Center for Data Analysis) On March 29, the U.S. House of Representatives passed H.R. 6, the Marriage Penalty and Family Tax Relief Act of 2001, by a vote of 282-144. The legislation, sponsored by Representative Jerry Weller (R-IL), proposes tax relief for millions of American families by alleviating part of the marriage penalty and expanding the child tax credit in the current Internal Revenue Code. The Senate is expected …

Just Energy Reports Fiscal 2010 Results

TORONTO, ONTARIO–(Marketwire – 05/20/10) – Just Energy Income Fund (TSX: JE.UN – News ) – Highlights for the year ended March 31, 2010 included: — Customer base reached 2,293,000 RCEs, up 28% year over year. Gross additions through marketing (excluding acquired customers) were 505,000 up 36% from 372,000 in fiscal 2009, and up from 313,000 in fiscal 2008. — Net customer additions through …

Child Tax Credit Amount Calculator 2009, 2010