The IRS Deductions Blog

Posts Tagged ‘mileage’

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

Question: IRS Form 8379 (Injured Spouse) How to maximize my return? Help!?

I am filling out IRS form 8379 (Injured spouse). My husband owes back child support so they are gonna take any refund he gets. We have 4 children. I am claiming them on this form as well as myself but not sure how to break down the standard deduction between the two of us to get back the most. Same thing with the credits (Line 17). Please help!!

Answer: The standard deduction would be $5450 for each of you. As for the credits, if you are claiming all the children, then you will allocate the credits under you unless they are specifically for your husband. This will not include the earned income credit. In the long run the IRS will take the information you are submitting and allocate the income, deductions and credits based on how you file the 8379.

It could take 11-14 weeks for the IRS to process the claim.

Laura H – H&R Block – Senior Tax Advisor 5
**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.

Items on Amazon Right Now for Standard Deduction Irs:

New Tax Changes : 2011 standard deduction

Question: Can the standard mileage deduction save me from taxes this year?

I receive a 1099- misc. I use my own vehicle and log about 30,000 business miles a year. My gross income is 17,500 a year. Will that save me from paying taxes? I used Turbo Tax and when I entered that figure the calculation went from owing 1,385 to a refund of 10.00. Can that be right? I have always used my actual expenses before and this year I purchased a new vehicle and was eligible for the standard mileage deduction. I have always had to pay about 1,000 each year and this was a shock. I re-did it several times and it came up the same each time. Can that really be correct. I do not want to mess up my taxes.

Answer: The mileage deduction for 17,500 miles is $8,489. If you are in the 15% tax bracket, this is a tax savings of $1,273. Plus, you will have reduced your income subject to self-employment taxes, for an additional savings of up to another $1,273.

So, your figures are very possible. With this much mileage, the per mile deduction is usually more advantageous than actual expenses.

Items on Amazon Right Now for Standard Deduction Mileage:

BizMile HowTo — fast search for long address books

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:

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