The IRS Deductions Blog

Posts Tagged ‘money’

Question: Good PayRoll Software With Records Keeping And Employee Deductions?

I am using excel right now, but that sucks for printing out reports. Basically I have paper sign in and out sheets for the guys which I like. I want to enter those into the computer, it shows them all there hours and how much they made based on wages. They also use there own money to buy some tools here and there, maybe some gas, and they get bonuses some times as well. I want to be able to show when I print a report that will show them getting reimbursed for gas or tools or whatever. Everything I have found just seems to have a misc box. I would like to itemize the list on the print out show it shows each fill up and or reimbursement. I don’t know why it’s so hard to find. Any ideas?

Answer: Quickbooks is a very good software for payroll and bookkeeping. You can also try using www.paycycle.com to do your payroll. You can even pay your payroll taxes through the system. I hope this helps.

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TurboTax Online Deluxe 2009 Review

TurboTax is the headline star in the tax preparation software world, but is its reputation a product of great performance, or simply great marketing? We break it down in this review.

Westpac Rescue Helicopter Service Payroll Deduction Program

Question: If husband is self employed, can we claim educations credits for me?

hr block told me no. and wants to charge us $300 for prep of taxes and wont give me my tax forms back. they also said they’d drop the fee to $100 but take off all my deductions and owe the irs $1200 instead of $200

Answer: sound kind of fishy to me.

get your paperwork back and go elsewhere. take a police officer with you if you must.

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CCH Lists Ten Ways to Reduce Your Taxes Whether You Itemize or Not

IRA deductions – The maximum deduction per year for an Individual Retirement Account (IRA) is $5,000 for 2009. Individuals 50 and older can make an additional catch-up contribution of up to $1,000. You can still reduce your taxes through an IRA contribution. Contributions made up to the return due date, without extensions, are treated as made on the last day of 2009.Student loan interest – If …

Community Dental Foundation

Question: Do I qualify for a job seeking tax deduction?

I was fired from my job in october 2007 and had to move to another state due to inability to support my family – although we had family in the new state providing lodging transportation and meals i spent everything i had searching for work and helping when i could with living expenses. i found a new job in april of 2008. do I qualify for a job seeking deduction?

Answer: No, but congrats on finding the job, anyway.

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IRS says stimulus bill also has tax benefits

• There are numerous tax benefits in the law. • There are the usual scoundrels breaking the law to tap the benefits.

Tax Deductions for Job Hunters in 2009

Question: for self-employed does claiming deductions lower your gross income?

Hi I had a question. So i have a normal job thats 20 hours a week, they alredy take taxes. I’m also a chat host online and make about $2800 a month from that. I am trying to buy a house in the next 2 years so it’s important that my yearly gross income looks as high as possible(on the tax return/form) to get the highest loan amount. possible. So if I claim $200 a month in deductions would that mean my monthly gross income would be lowered to $2600? Also when I file my yearly taxes next year will they try to tax me on the earnings at my normal job that has already been taxed? I heard at the end of the year you just file one big return…thanks =)

Answer: Yes, gross personal income is after business expenses if you file a Form T2125 (or Schedule C in the US).

“They” won’t “try” anything. You will deduct the amount withheld at source from your paycheque from any amount of tax owing on your T1 tax return (figured on your total income from all sources).

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An important tax credit that might not be on your radar screen

For millions of Americans filing their 2009 tax returns, things could be vastly different this year.

Tips & Advice for Income Tax Deductions : Why you Should File your Income Taxes

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Most Popular Kiplinger Guidance of 2009

Don’t fall behind. Prosper from Kiplinger’s most valuable guidance of 2009, as measured by the number of your fellow readers already benefiting from it all.

IRS Tax Deduction Calculator for 2009, 2010.mov