Any Tax Experts Out There?

[Exanimate]

I know this is not really the place for tax questions, but with the broad range of people here I thought that maybe someone could answer this. Maybe a trucker can help as well.

I know that for mileage the Federal rate is 42.5 cents per mile. I know that from September to the end of the year it was I think 49.5 cents a mile. My job pays me 36.5 cents a mile. Is it possible to claim the difference?

[jpc165]

I know this is not really the place for tax questions, but with the broad range of people here I thought that maybe someone could answer this. Maybe a trucker can help as well.

I know that for mileage the Federal rate is 42.5 cents per mile. I know that from September to the end of the year it was I think 49.5 cents a mile. My job pays me 36.5 cents a mile. Is it possible to claim the difference?

yes it is. as unreimbursed business mileage.

[Kid Brock]

Yep. If you use a tax software there should be a section for reimbursed business expenses like safety equipment, etc.

[Exanimate]

I am using Turbo Tax. I will go back in and see if I can find it. Thanks.

[Kid Brock]

Yep. If you use a tax software there should be a section for reimbursed business expenses like safety equipment, etc.

Of course I meant unreimbursed, but you get the drift. Good luck.

[Exanimate]

I am finding the mileage section, but it doesn't have anywhere for me to add the difference. It just wants the total number of miles, and it calculates it on the full rate. Obviously I can't claim it all, as I got paid the 36.5 per mile. I may have to have my taxes done by someone else this year.

[jpc165]

I am finding the mileage section, but it doesn't have anywhere for me to add the difference. It just wants the total number of miles, and it calculates it on the full rate. Obviously I can't claim it all, as I got paid the 36.5 per mile. I may have to have my taxes done by someone else this year.

just do the math and claim less miles to equal out the money you are owed. there is no problem doing it that way.

ie.. (49.5-36.5)/49.5 * total miles = miles you enter

[Exanimate]

just do the math and claim less miles to equal out the money you are owed. there is no problem doing it that way.

ie.. (49.5-36.5)/49.5 * total miles = miles you enter

Damn, I shouldn't have slept in math class. Thanks a lot for your help. It will be even more fun since I used 3 different vehicles.

[ChrisH]

Damn, I shouldn't have slept in math class. Thanks a lot for your help. It will be even more fun since I used 3 different vehicles.

Well, you could be in a profession that requires you to bill your time, and requires precise calculations to the tenth (.1) of the hour, every day. I'm a lawyer with a firm in NYC, and have to keep track of what I do all day long to the tenth of the hour. Not that big a deal if you only have one matter (time worked, minus write offs for private phone calls/emails/web surfing), but try it when you have five, ten or even more different matters during the day of varying lengths. It's awful. People hate lawyers and think we're overpaid vultures (some indeed are), but given how shitty the work is, how hard we have to work, and how we have to be "on" all day and keep accurate records of time spent on everything, it is hard-earned.

[NJisSexiest]

go to h and r block. they do everything for you. ive been going to them for the past three years and they are timely and accurate. money well spend so i dont have to stress out.

[flyerfan116]

It's actually 40.5 cents jan - Aug. 48.5 Sept. - Dec., but keep in mind that in order to claim this you'll have to be able to itemize plus your business expenses will have to exceed 2% of your gross income. For example if your gross income was $50,000 anything over $1,000 (50,000x2%) would be the amount deductible.

[Exanimate]

Christ this is a pain. Guess I will go pay someone to do my taxes this year. Thought I had it figured out until the itemizing shit.

For example from Sept. to Jan I had 17692 miles, at 36.5 cents a mile. So the difference I want to claim is .12 cents. So by the formula provided above, I would enter 4289 miles?

[flyerfan116]

I would just pick up the amount 17692x.12=2123 as unreimbursed bus. expenses if ur using turbo tax

[flyerfan116]

just remember its only .12 from Sept. - Dec. before that its only .04

http://www.irs.gov/newsroom/article/0,,id=147423,00.html

[Exanimate]

just remember its only .12 from Sept. - Dec. before that its only .04

http://www.irs.gov/newsroom/article/0,,id=147423,00.html

Ok, yeah I saw the prices in Turbo Tax. Still trying to find the unremimbursed business expenses, all I see is the mileage part. Thanks for your pointers.

[HummerTuesdays]

I am not to be held liable if you take this advice!!!

Just take the entire deduction. It's not enough for the IRS to come after you for. :)

[flyerfan116]

Ok, yeah I saw the prices in Turbo Tax. Still trying to find the unremimbursed business expenses, all I see is the mileage part. Thanks for your pointers.
no problem...don't know how turbo tax is set up but on the form itself its schedule A towards the bottom of the form...can't think of the exact line number but its towards the bottom.

[Exanimate]

no problem...don't know how turbo tax is set up but on the form itself its schedule A towards the bottom of the form...can't think of the exact line number but its towards the bottom.

Thanks for all of the help guys. I can't find anywhere on the turbotax software that says unreimbursed business expenses. Just wants you to enter the mileage, or it has misc. stuff like parking, bus, travel, meals and entertainment, or other, like union dues, uniforms, or job search. I guess I will just take it down to H&R block. I will probably pay out the ass for that.

[flyerfan116]

Thanks for all of the help guys. I can't find anywhere on the turbotax software that says unreimbursed business expenses. Just wants you to enter the mileage, or it has misc. stuff like parking, bus, travel, meals and entertainment, or other, like union dues, uniforms, or job search. I guess I will just take it down to H&R block. I will probably pay out the ass for that.
uhhhh that would qualify as business travel...either that or do as suggested earlier and convert to miles...h&R block is gonna **** you

[Exanimate]

uhhhh that would qualify as business travel...either that or do as suggested earlier and convert to miles...h&R block is gonna **** you

I will put it in business travel. Just paranoid about it being questioned. Don't feel like dealing with the IRS. Then again, do poor bastards like me get audited often?

[Hudson]

ummm I commute 120 miles per day from home and then to and from two different worksites. What can I deduct?

[click]

Sorry to ask on your thread, but has anyone received their federal tax form in the mail yet? I usually file my return by phone since I make less than 50k and have no itemized deductions. The form has the PIN # I need to be able to file. I tried to get an answer online but no luck.

[flyerfan116]

ummm I commute 120 miles per day from home and then to and from two different worksites. What can I deduct?
usually too and from work are not deductible, but travel to different work sites would be, as a general rule of thumb

[flyerfan116]

Sorry to ask on your thread, but has anyone received their federal tax form in the mail yet? I usually file my return by phone since I make less than 50k and have no itemized deductions. The form has the PIN # I need to be able to file. I tried to get an answer online but no luck.
go to www.IRS.gov there are tons of free fed. tax e-filing if you make less than $50k, usually they will charge you if yo want to file the state but the fed. is free. you can check your state website too b/c they sometimes offer free filing. I have a lot of friends i file for and i do the fed for free from the irs website then go to the nj website to file that for free as well

[flyerfan116]

I will put it in business travel. Just paranoid about it being questioned. Don't feel like dealing with the IRS. Then again, do poor bastards like me get audited often?
as long as you have milage logs to back up the miles you are reporting and can show that you were only reimbursed for a portion you should be OK should the IRS question it....also just so everyone knows i am an accontant but every person is different so anything i say on here has been a general statement and may not pertain to your particular case....that is all

[click]

go to www.IRS.gov there are tons of free fed. tax e-filing if you make less than $50k, usually they will charge you if yo want to file the state but the fed. is free. you can check your state website too b/c they sometimes offer free filing. I have a lot of friends i file for and i do the fed for free from the irs website then go to the nj website to file that for free as well
They're not making it easy for some reason this year. I keep getting the turbotax and h&r block answer. My return is easy, don't fuck with me this year. Try to get the pin online and just get the turbotax site. Thans Uncle Sam

[Exanimate]

as long as you have milage logs to back up the miles you are reporting and can show that you were only reimbursed for a portion you should be OK should the IRS question it....also just so everyone knows i am an accontant but every person is different so anything i say on here has been a general statement and may not pertain to your particular case....that is all

I have detailed logs, and have every check stub that states the 36. 5 a mile. You have been a great help. I really appreciate you taking the time to help out, even though you are a Flyers fan :icon_mrgr .