1. Welcome to SportsJournalists.com, a friendly forum for discussing all things sports and journalism.

    Your voice is missing! You will need to register for a free account to get access to the following site features:
    • Reply to discussions and create your own threads.
    • Access to private conversations with other members.
    • Fewer ads.

    We hope to see you as a part of our community soon!

It's January 1, soooooooo.....(official tax time thread)

Discussion in 'Anything goes' started by farmerjerome, Jan 1, 2007.

  1. farmerjerome

    farmerjerome Active Member

    Apologies in advance to everyone for starting this thread for the fourth straight year.

    It's tax time again and I need a refund like Vince Neil needs a new liver. I started adding up deductions today.

    So, for our newbie friends, lets list what's deductible.

    For us stringers, milege, internet, cell phones and office supplies.

    I have a few questions this year.

    1. Can I deduct the money I've spent on meals over the past year while I'm working? It's really not that much, but I'm at the every little bit helps stage.

    2. As everyone knows, I started the retail job this year. I've had to buy a ton of clothes because of a surprisingly strict dress code. I've spent at least a couple of hundred dollars on bottoms that aren't made of denim, sneakers to take away back pain and shirts with no writing on them. I've also lost a lot of weight, so around September I had to do it all again.

    3. Was The Decent really a good movie? I've heard good things, but I'm not sure.
  2. PeteyPirate

    PeteyPirate Guest

    The Decent was pretty descent, nothing special.
  3. Kritter47

    Kritter47 Member

    For the fresh-out-of college newbies, is it worth it (if you've only worked since, say, August) to do individual deductions, or should you do the standard deduction since your applicable income is going to be probably at the very low end of the spectrum?
  4. spup1122

    spup1122 Guest

    I use Pro-Tax and it asks about the deductions and then decides for me if it's worth it. Oh, and if you are not being claimed by anyone this year, you get a decent deduction for your educational loans or tuition payment. I got more than 1,000 back last year, even with pulling money from a mutual fund and having stocks because I moved and got deductions for my tution.
  5. Hank_Scorpio

    Hank_Scorpio Active Member

    Remember you can only deduct a certain percentage of Internet, cells, computers based on how much you used it for work.
  6. farmerjerome

    farmerjerome Active Member

    Ha ha, farmerj can't spell.

    Hank is right. I think you can deduct about a third, no?
  7. Cadet

    Cadet Guest

    You can deduct job hunting expenses, such as mileage, photocopies and FedEx costs.

    Also, if your job doesn't reimburse mileage at the federal rate, you can deduct the difference.
  8. KP

    KP Active Member

    Well, all the time we spend on sj counts, right?
  9. OnTheRiver

    OnTheRiver Active Member

    I keep a very close eye on my deductions -- I count unreimbursed mileage, my property taxes, mortgage interest, etc. I also can deduct a certain percentage of my kids' child care costs.

    I get credits for both kids, and this year, everyone gets an extra credit ($60, I think) related to telephone service excise taxes.

    All that said, keep this in mind. It's advice shared in these sorts of threads before on SportsJournalists.com: Do NOT fuck with the IRS. Be honest with them, pay anything you owe, and don't report things that aren't true. You do NOT want trouble with this particular arm of the government.
  10. three_bags_full

    three_bags_full Well-Known Member

    In my state (don't know about others), you can't itemize unless you have more deductions than the standard, which only makes sense.

    If you've only been working since August, you most likely don't have enough.
  11. Clever username

    Clever username Active Member

    How good/convenient/useful is Pro Tax?
  12. imjustagirl2

    imjustagirl2 New Member

    I use TurboTax.
Draft saved Draft deleted

Share This Page