Expenses-Get Free Tips On Business Expenses, Living Expenses, FSA Eligible Expenses

Bruce Tzu asked:


If I want to mix my business and personal expenses on one credit card does it matter? I mean if I charge a business expense on a personal credit card does the IRS care? It is still a business expense according to the IRS right?

Clementine Faglie

mellamoloca asked:


He has cystic fibrosis and many people have been generously wanting to contribute but I want to make sure it does not get taxed as income since it will be spent on medical expenses.

Beth

smontoya5 asked:


I moved for my employer in Jan of 07 from IL to NC. At that time. I received a lump sum payment to cover travel and moving expenses along with expenses in relation to the sale of my home in IL.

All of this money was added to my paystub so that I could be taxed on it. Fine. My employer also added additional money in to cover the federal and state taxes that I would be liable for.

My problem is with social security taxes. I have only earned $40,000 so far this year (my paystub shows $87k because of all of the relocation expenses) yet I’ve paid out close to $5k in SS taxes. I am salaried and paid twice a month. This past pay period my employer took out over 16% of my wages for social security taxes.

Apparently, I’m liable for 6.2% up to the first $95,000 earned? What are they doing? It looks like there is a $1,200 deficiency right now so can they legally just keep taking 16% of my pay to cover the difference? Shouldn’t they have notified me before doing this?

Winter Hules

jason l asked:


I was in an accident and have not fully paid the expenses. I dont know if this will affect my refund.

Roxy Conkey

BelleVegetarienne asked:


Hi,
I’m doing my career planning homework, and we have to calculate living expenses, for when we all move out in a couple of years. One task is to “list three factors that you would consider when estimating your personal living expenses”. Does anyone know what I could write.

Also, what is the difference between ‘fixed’ and ‘variable’ costs?

Thanks

Nicole Goldbeck

ivory_windy asked:


My husband and I have 5 kids. My husband works and I stay home with the smaller kids. With the economy slumping down fast, so is our finances. I need to work ASAP. But we figured, if I worked, I will only make enough to pay the child care expenses, maybe less.

If the Child and Dependent Care Expenses Credit kicks in during tax season, maybe it will be worth it. What percentage of the Child Care Expenses will the IRS return?
I came across another question here and I was wondering wha it is about — Preax $5000 credit?
http://answers.yahoo.com/question/index;_ylt=AjBpaopkYCnRfxewF3qSZVMAAAAA;_ylv=3?qid=20071024170503AAYVKrC

Hailey Bayon

Baller asked:


I need something easy but reliable to keep track of my family’s expenses.

Lorean Eberst

Jack M asked:


I am not certain how I file for her this year, do I file the married joint return for her as an independent contractor or use form 2106 which is unreimbursed expenses?

Edward Daylong

OnlineActive asked:


I am a carpenter and I drive 100 miles to work daily (round trip from my home). The job site is not in the State in which I reside. My employer pays me a 50 dollar weekly stipend for fuel. This past summer/fall 50 dollars a week didn’t cover the cost of commuting. Can I deduct these expenses? How about deducting the costs for maintenance of my vehicle? i.e. oil changes, mechanical work, etc.

Annamaria Mensalvas

Erin asked:


I was told that you could deduct home improvement expenses until the year you sold your house. Is this true?

Rayford Laurenitis