The IRS Deductions Blog

Posts Tagged ‘irs’

Question: How are mileage deductions handled on 1099-MISC forms?

I was paid mileage by a company I did some contractual work for in 2006. This mileage was paid to me at the IRS reimbursement rate by the contractor for all of my mileage. My total income including the amount of mileage I was paid for was all included in the 7. Nonemployment compensation box of my 1099-MISC form and I want to verify that this is correct. Should paid mileage be taxed the same as income?

Answer: If you are an independent contractor then all the compensation that the company paid you for is income to you. You should report the income paid to you on the 1099-Misc on a Schedule C, and then you would also be able to claim the mileage that you were paid for as an expense under auto/truck expenses. The mileage rate for 2006 was .445 per mile. You would be only able to claim the actual business miles that you drove for the contractual work. And as for it being more beneficial for you to simply take a deduction from the IRS instead of being paid by the contractor for mileage, unless the income tax rate ever goes up to 100% tax you’re better off being paid by the contractor.

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Workers Get Lower Mileage Rate in 2010

Millions of workers who use their cars for work will get a smaller tax deduction next year under a new IRS rate.

2009 Mileage Rates Increasing For Tax Deducations

Question: MIleage reimbursement/tax deduction?

I know that the federal rate for tax deduction is 58 cents per mile driven for work related expenses. For my job, I have to take consumers from their home to doctor appoints, grocery shopping etc, and my company only reimburses me 34 cents per mile. Can I deduct the missing 24 cents per mile on my taxes if I have proof of my mileage driven?

Answer: Yes, if you have a log book with dates time and miles on the vehicle at start and finish of the jobs.

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Legislators receive $3,203 pay hike for 2009

The House and Senate There were no roll call votes in the House or Senate last week. Beacon Hill Roll Call this week examines the 2009 salaries and other benefits received by the Bay State’s 160 state representatives.

Tax Deduction | Tax Filing Tips For Faster And Easier Filing By Drew Miles

Question: Self employed-Independent contractor, are these deductible?

This year I’m working as an independent contractor and I’ll be given a 1099 for tax purposes. I’m an umpire for an amateur baseball association. I am absolutely required to have internet access and a cell phone.

Answer: Go to a tax expert to have your taxes done. You have a unique situation that justifies the expense. However, I bet they find you more deductions than you could imagine on your own. For instance, do you realize you can deduct the expense of WASHING your uniform? Some situations also allow you to deduct traveling expenses.

I usually do my own taxes…but this year I have a few unusual situations that merit my going to an expert. I have an appointment today.

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Snowed In

12:05 PM Eastern So Monday morning I hopped in the ol’ Vista Cruiser with the family for what was supposed to be a fun-filled afternoon hop across the border to Buffalo, the intent being to hit the brand-spanking-new P.F. Chang’s for lunch, pick up “Just Dance” for the Wii for the girlies and grab a couple [...]

The Government Paid for my MLM Vacation

Texas health insurance is just like everything else in Texas, a BIG deal. They do things in a big way, even down to their health insurance. Texas offers several individual health insurance plans, which affords a lot of people some pretty ‘big time’ coverage. But sadly, many go without good health insurance simply because they are not armed with the facts for making the right choices. They need good solid information for choosing Texas health insurance policies that will meet their needs

So many people who do not understand how health insurance works truly believe they cannot afford it so they do not bother to research it. But there really are health insurance policies out there that are affordable and give you the kind of coverage that can save you from going under should you be in the position to need it. Not having Texas health insurance when you need it, can be disastrous.

Many health insurance companies have experts who are just waiting to help people find the kind of policies they need. And if you shy away from signing up because of the paperwork (many people do), then they can assist you with that as well. When looking for good Texas health insurance, you’re going to find that there are numerous types of coverage you can apply for. It mostly depends on your situation as to what type of coverage will best work for you.

If you are in the market for Texas health insurance but are laid off or you just graduated from school or if you are just temporarily not insured, you may opt for a ‘short-term’ policy. Short term insurance will cover you anywhere from 30 up to 180 days. This way should anything unexpected happen; you won’t be wiped out financially.

If you are a person who travels a lot, in and out of the country, then Texas health insurance can cover you wherever you go. There are a lot of insurance companies with policies that don’t cover you if you go outside the continental U.S. But health insurance should be available regardless of what you do or where your profession takes you. If you should have a need for insurance while overseas, you may find that the medical expenses are really quite high, and without insurance you’d really be up against it.

Of course, with Texas health insurance you can always get a life insurance policy. Most all insurance companies carry some sort of life policies. You can search through a whole host of companies looking for the one that you can afford, and that will provide you with the right coverage should you have a need for it. You can also find some good dental coverage. Not many companies cover dental these days, but you can find them in Texas.

Even if you’re an immigrant who happens to be living and working in Texas, good affordable health insurance can be had by you as well. Texas health insurance is known to have immigrant health insurance that could be right up your alley. It’s a ‘must have’ for anyone who decides to travel and work. We never know what the future may bring, and it’s better to be prepared with good health insurance than to be caught by circumstances beyond our control without it.

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Johnson, Hall to seek re-election

U.S. Congressmen Sam Johnson and Ralph Hall have filed official paperwork in Austin to run for re-election to represent Allen and the Third and Fourth Congressional Districts, respectively.

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