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

frankiehome1 asked:


We have a sole proprietor truck business and are filing joint venture is it better to separate the income and expenses evenly, we have joint personal and business bank accounts.

Tommy Ansoategui

Noah S asked:


My wife just gave birth to our first child on Dec. 26th. As I understand it we can list our child as a dependent since he was born before the end of the year (please correct me if I’m wrong). We have only now received the medical bills in the mail, well past the end of 2007.

Do I deduct those medical expenses now for the 07 fed taxes, or do I wait until next year’s 08 fed taxes since the expenses will be paid in 08?

Logan

Robin G asked:


The house I was renting was foreclosed on. I had no choice but to move. I don’t think it’s right that I not get my deposit back. Since the move was not my choice. I think it only right that the former owner pay my moving expenses.

Larry

generaltso asked:


I currently have a full-time job and I’m starting a side business. If the side business doesn’t produce profit this year, can I still deduct my business expenses from the income taxes I pay from my day job? The side business will be a sole proprietorship. THANKS!

Taylor Blaskovich

LTR asked:


I have been doing contract work for a couple weeks and just recently paid LegalZoom to form my LLC. Since the LLC’s finalization is going to take at least a couple weeks, can I plan on deducting my business expenses I incur before the LLC is finalized? I figure since it’s a single-member LLC, taxed as a pass-through, and is technically a “disregarded entity” that this doesn’t matter but I want to be sure. I’d like to avoid tax fraud!

Aurelia Kragh

yagermister1113 asked:


What will I have to pay for my child with Long QT Sydnrome? How much will these expenses cost and are any of them optional?

Sebrina Puzon

fgf asked:


What are your expenses?
What could I list?
Thanks.

PS: I know that its the wrong category, but I couldn’t think of any other one that would supply lots of answers. Sorry. But thanks again in advance.

Forest Adelizzi

riverratbilly asked:


I was in an accident while 350 miles from home. It was 100% the other driver’s fault. My car is not drivable and has been at the body shop for 5 weeks. It should be done in the next week. In the meantime, My children and I have been staying with my mother. I was only supposed to be here for 2 weeks and I want to get home! Is the car insurance company responsible for paying for expenses, or the inconvienience of my being away from home for so long?
We live in Pennsylvania.
They have provided me with a rental car.
Thanks for all of the great answers! So, if I had driven back home, and then back here when the car was ready, and then back home again, I would have had to pay for the gas myself? I guess I was better off by staying put, even if it meant being away from home for six weeks 9 and missing Valentine’s Day!)

Rolf Sappah

egw asked:


I am paid a monthly amount by a local school for hosting an exchange student in my home. At year-end I am 1099′d and need to report the amount as taxable income. Can I offset this additional income tax with any write-off of expenses incurred, like for providing food, heat, water, etc.?

Laverne Coger

Karina B asked:


About half my income is bonus based on production, but is considered Commission. I do not travel for work or have any other expenses like normal when ppl are on commission. Is there anything I can write off?

Doyle Banis