Tax Time

[Delivered]

So exactly does everybody deduct off their taxes (UPS related)

 

[scratch]

I deduct shoes, socks, and union dues. If you give to the United Way, deduct that too. I use Turbotax.

 

[moreluck]

Don't forget to deduct the cost of your Turbo Tax too!

 

[cachsux]

Don`t forget the cost of laundering your clothes once a week($5),any repairs made such as sewing a button($10),pens,tolls that your not reimbursed,portion of your cellular bill showing calls to ctr while on the job whatever % of your minute pkg,etc. Think about any expense thats business related and unreimbursed.

 

[SmithBarney]

Deduct your cell phone bill... while not a required part of working for UPS if your cell company provides a breakdown of calls(mine does and will) and if your usage is over a certain % for work you can deduct it(consult a tax guy for specifics)

 

[brownmonster]

I'm gonna keep track of all that litlle stuff so my tax bill is a hundred bucks less? Not. I'm the UPS man, I wipe my butt with $100 bills!

 

[toonertoo]

Ive used Turbo tax for yrs, I am not waiting on anything BUT, the residential energy credit forms, and the state tax forms, will not be available til 2/2/07. Last time I buy Turbo Tax in November. Bet I could get them at the library already, If I had time to get there. So I guess Ill just wait.

 

[ragu]

I'm gonna keep track of all that litlle stuff so my tax bill is a hundred bucks less? Not. I'm the UPS man, I wipe my butt with $100 bills!

Good point, not really worth the trouble of keeping track of receipts and bills for very little profit. Not to mention the fact that when you start making a bunch of crazy deductions like that you send up some red flags that could lead to a big world of hurt.

 

[breadbooze]

Everything that is deductible still doesn't add up to be more than the standard deductions.

 

[rod]

Don't forget that $100,000 church donation and $50,000 in tax deductable raffle tickets.

 

[NOT a tax consultant]

Don't forget that $100,000 church donation and $50,000 in tax deductable raffle tickets.

On a related note, I read that starting in 2007 (and I took this to mean the 2007 tax year, not the taxes we are about to do once our W2s arrive) the IRS will require a receipt for EVERY charitable contribution that is deducted, no matter how small. The article I read said to get a receipt from that Salvation Army bell-ringer, or forget the deduction.

I hope a pay stub is enough to prove my United Way deductions. I always keep my final check stub of the year with my tax papers.

 

[happyboy]

I don't have any deductions other than the standard deduction, I use the 1040ez form. I payed about $15,000 in taxes this year, including medicare and Social security. Wow that is alot. I was lucky to make $15,000 in the hub.

Maybe i should move to Russia, I hear that they have a 10% flat tax.

 

[PassYouBy]

Where can I obtain the information for for tax purposes of the total I donated to the United Way? Do I just go off of ALL the checks I received? Thank you in advance.

PYB

 

[PassYouBy]

Nevermind

 

[Cementups]

I write off my white t-shirts, socks, shoes, union dues, and under armour boxers.