Updated Tax Questions...And thanks for all who reply!

First off, a hardy thanks from all us young folk on here to anyone who replies to this thread. It is a huge help to all of us, myself included, and we appreciate it.

Secondly, here is what I believe I can deduct regarding business expenses.

1) Mileage
A. To work.
B. From work.
C. From work to assignment.
D. From assignment to work/home.

2) Car repairs

3) Meals
A. Meals purchased while at work.
B. Meals purchased while on assignment.

4) Moving expenses
A. Moving expenses from one job to another, out of state, even though I haven't worked 39 weeks.

5) Books/magazines purchased about sportswriting

6) Cell phone bill (within reason) ?

That's all I think I can claim, but that alone would be HUGE. I take as much as possible out of my paycheck to cover me because of freelance (I think I earned in the ballpark of $6000 this year,), and I'd like to get a refund, if possible.

Again, guys, thank you so much.

And moddy, if this belongs in Anything Goes, please move it.

 

To claim any of that you would have to be able to itemize deductions, meaning you have more to deduct than the standard deduction allowable.
And your business expense has to exceed 2% of your adjusted gross income before it becomes deductible.

As for the $6,000 in freelance, file Schedule C as self-employment income and deduct expenses (car, etc.) directly related to freelance earnings.

 

Wow, you're asking to get audited.

 

So instead of being a smartass, help the guy out.

I'm clueless here as well.

 

Pardon my ignorance, Spnited, but what is the standard deduction allowable.
?

 

Are you single or married?
Single is $5,150. Married filing joint return is $10,300.

In other words, if you aren't paying a mortgage/property taxes, you won't be itemizing anyway.

 

IIRC, $5350 (or somewhere in the ballpark)

 

OK, Spnited, let me try to clarify.

I'm single. I rent a room in a condo. I make roughly $35K a year, plus freelance.

For the full-time job, I should take the $5,150 (that didn't come out right, but anyway) and ignore mileage, etc.
But for freelance, I should itemize?

Regarding that standard deduction, it that automatically done or is there a form to fill out. I've only filed for two years, and I've never really done a deduction, so I'm not sure if I've had that done before.

Again, thanks, and I'll keep saying it.

 

Try going to www.irs.gov and reading up a bit.


Basically, you file a Form 1040 ... you list your regular income as whatever is on your W-2s.
Put the $6,000 or so freelance on Schedule C... deduct what you can in mileage (I think it's 44 cents a mile now) and other expenses involve in earning that money.
Take that balance, add it to regular income, add any bank account interest etc. and you have adjusted gross income.

Then you deduct $3,300 as your personal exemption (you are your own dependent) and $5,150 standard deduction to get your taxable income.

Look up tax on that amount on the chart, compare it to your withholding on W-2s and the difference is either what you owe or your refund.

 

Double check with someone else, but I do NOT think you can deduct your drive to and from work.
You CAN claim the difference the company pays you form travel to assignments. If your company pays .32 a mile you can claim the .12 difference from the government allowance, which is .44.

Unless you cover a major beat (NFL, MLB, NHL, etc.) I'm not sure you can deduct magazine subscriptions.

You CAN claim mileage for you travel to a job interview.. not sure about moving expenses.

 

You can claim moving expenses if the move was for work. [/hasmovedthreetimesinfouryears]

 

But he said he hadn't worked in 39 weeks, so was the move for work?

Besides, it still doesn't equal the $5,150 standard deduction