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

Will N asked:


My employer has refused to reimburse us outside sales reps for our business expenses; which violates Calif.labor code 2802; he says he has been paying us extra in our commissions all along. There is no oral or written agreement to prove this. In fact our job description says that the sales rep is to furnish own transportation and pay related expenses. Now that he has been informed and wants to abide by the law he is lowering our commission structure to account for the expenses. Now the wage is below scale or the norm for our line of work(wants to pay10% vs. 15-25%he should be paying).Prior to Nov 2007 it was not lawful to include actual expenses in the wages. Now it is lawful as long as there is proof that the actual expenses are being paid. There has been no adjustment to pay since 2005; our fuel cost has risen at least 100% since then and 400% since I have been employed with no accounting or reimbursement. Advise please…thanks in advance!

Len Yetter

djcartwright asked:


I have a part-time job as a direct sales rep. Can I deduct my business expenses (equipment, supplies, mileage) on top of my standard deduction, or do I need to itemize in order to deduct those?

Thanks!
I’d appreciate a DETAILED answer that gives some rationale for me to judge whether it makes sense. The first answer I’ve gotten so far doesn’t clearly answer the question and I couldn’t prove that the second answerer even read the whole question.
Ah! Thanks for the clarification. Yes, I work as an independent contractor with a 1099 form.

Nichole Fogerty

delmarvaradioman asked:


how should I track my expenses for business that I pay through my personal account?

Kacie Grismer

valentino’s asked:


I finished my self employment tax return, on H&R block online free tax filing..

It just keep showing me that error message, and i don’t know how to fix it.. Do you know how to fix it ??…. 10 points to the first right answer..
here is the error message

You completed the section for Employee Business Expenses, but you didn’t enter any W-2s. Choose Take Me To to return to the Income section of the interview and add a W-2.

I’m self employed and i made form 1099 .. yet i don’t file W2 for myself .. if you could help me how to fix this it will be really appreciated..

I’m 3 days trying to figure out how to fix it .. or what is wrong.. it doesn’t give me no clue …
Yes , I did not fill any employee buisness expenses… yet i go to schedule C.. and i did not put any employee buisness expenses…
May someone help me, with how and where this employee buisness expenses is.. so i can delete all of it ??
35 minutes ago

again..
I used HR Block online, and it walked me through the papers automatically..

And i filled schedule C..,. i didn’t fill any employee buisness expenses.. if any body know what it is.. or how to fix the problem.. it will be great ..

Thank you..

I’m referring to HR block online system.. not turbotax or anything else..
I DID NOT USE Form 2106 (Employee Business Expenses). I did not find it on my tax papers as well.. all what i see is sch C.. May anyone tell me how to fix this problem .. on HR block online tax filing ??

Prince Mihelcic

Truthseer123 asked:


A Subchapter-S had three partners. the books are closed and taxes done for the Corp. Partner A has deductible business expenses which are uniquely his. There is a way to deduct this for a partnership (1065)…but is there a way for a subchapter S?

Specifically, what form is used, assuming a positive answer…
1. Although they are legally shareholders, they are treated for tax purposes as partners.

2. These deductions-supplies, small equipment, etc., would be “off-the-top” if paid directly by the 1120-S. Deducting on a 2106 or on schedule A would seriously dilute, if not negate completely their impact.

3. The articles, etc. are silent as to this type if circumstance, and the tax return has been finalized.

Hsiu Motonaga

sbillips080904 asked:


I am just trying to find out if it is appropriate for a president of a business to use the business miscellaneous expense account to buy a car for personal use? He reports the expenses as a miscellaneous transaction on the financial statements.

Georgianne Greenhalge

Brian asked:


The owner of the company, is single and has no dependents. He uses the $5,350 standard deduction in computing taxable income for 2007. The personal exemption amount for 2007 is $3,400. This is his only source of income. Compute after-tax income if:

a. the company is a sole proprietorship, and the owner withdraws $80,000 for living expenses during the year.

b. the company is a corporation, the owner is the sole shareholder, and the corporation pays out all of its after-tax income as a dividend to the owner.

c. the company is a corporation, the owner is the sole shareholder, and the corporation pays the owner a salary of $89,950. This will increase the corporation’s business expenses to $139,950.

Billy Cotsis

BigRVP asked:


Had a discussing with a colleague and was debating on the following…how much income does a buisness have to bring in to benefit from business write offs. The first year i was self employed, i keep all expenses related to my business on a spreadsheet. during tax season my wife and i filed married joint and took all my “info” to our preparer. this was a few years ago, but i remembered her saying that u really dont benefit from write off until ur business is 50k or more in income.. Please advise if you know the answer.

Johnnie Drapkin

joe asked:


I am about to purchase some equipment such as a computer and cabinets. Can I deduct these expenses if I havent formed an LLC first?

Harley Bramham

Julia L asked:


I heard you have to have $5,000 worth of business expenses in a calendar year to declare them on your individual taxes, which I will probably accrue in 2010. Can someone confirm this? I have accrued about $2,000 in business expenses for 2009. I live in Texas, not sure if that makes a difference.
I accrued roughly $1200 of 2009 expenses buying weights for my personal training business. I’m not on the paperwork as a co-owner of the actual company until 2010. Nor do I really intend on claiming any income for that business in 2009 as it was a bit under $600. The remaining expense was certification expense for my day job, which is a wholly different line of work.

Candelaria Ariel