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Do you like to go to garage sales? Try buying all the clothes left over on Sunday afternoon. Value them according to fair market value (there are books to help you do this) and give them to Good Will. Take a deduction at FAIR MARKET VALUE. You will find that for $10, you have purchased $300-$400 of charitable tax deduction. Don’t forget to deduct the mileage to obtain the clothes (going to the garage sales). Make it a family outing. Have some fun and starve the bums.
Do you have a business? If not, you should. Try AMWAY or a similar organization. Use your garage to store the products, and take off a percentage of your electricity, rent, insurance, phone, repairs, mileage, etc. on your home as “business expenses”. Since you must make a profit 3 out of 5 years, fold the business after 2 years, and open up a different one (e.g. Mary Kay Cosmetics, Shaklee). By the time IRS gets around to audit you in three years, all physical records are gone with no hope of reconstruction. YOUR paper records will be the only source of information. Not only do you starve the bums, but who knows, you may be the next Bill Gates.
Quote:
IRS says you cannot deduct commuting costs. However, if you have a business, you may deduct the costs of obtaining materials and supplies for that business. As such, each day, do not drive directly to work. Drive to a nearby store and pick up something for your business (e.g. a pencil). Do the same on the way home. As such, the costs of travel from the store to your home/business are not deductible, but the costs from your home/business to the store are. If there is a post office nearby, renting a post office box to get “business mail” will also work.
the irs wont allow comuting costs...but all in and around milage from site to site is deductable
example.. you comute from home to point a (work base)..but during the day you have to go from site a, to site b, to site c, back to site a....all that is deductable...just not the comute from home to 'a', and from 'a' to home
the irs wont allow comuting costs...but all in and around milage from site to site is deductable
example.. you comute from home to point a (work base)..but during the day you have to go from site a, to site b, to site c, back to site a....all that is deductable...just not the comute from home to 'a', and from 'a' to home
But if on your way to and from work, you buy a pencil for the business,you can deduct the mileage...
Bs really?? A married couple with three kids, making $72,500. Owns a home paying about $1,500 a month in interest on a mortgage, + 5,500 in property taxes and $1,000 in mortgage interest will actually get $169 back in federal taxes.
Bs really?? A married couple with three kids, making $72,500. Owns a home paying about $1,500 a month in interest on a mortgage, + 5,500 in property taxes and $1,000 in mortgage interest will actually get $169 back in federal taxes.
Maybe I should get new tax man then. We file married joint and my income is about 92k my daughter is still at home so I claim her and the interest on 200k mortgage. Last year I got @1500 back from the @7k I paid in
Maybe I should get new tax man then. We file married joint and my income is about 92k my daughter is still at home so I claim her and the interest on 200k mortgage. Last year I got @1500 back from the @7k I paid in
That probably makes sense. The example I was using had three kids, and mortgage interest on a loan of about $300,000 or so. Also is your kid over 16? While you do get increased deductions for any dependents, the $1,000 tax credit is for those under 17.
In 2004, that's how much of the nation's wealth the bottom 25% held.
Here's another number:
13%
That's how much the middle 50% had (25.1-74.9% on the wealth scale)
And finally:
87%
There's your top 25%.
In other words, 1 out of every 4 Americans are essentially worth nothing. And I would assume that the bottom 50% are worth about 6-7%.
Yet, there are still sales taxes, property taxes, state taxes (many of which are regressive), gas taxes, and whatever else you can think of, that are, in their majority, flat taxes in which the poor pay a much higher percentage of their income than the rich.
And yet some ***** that the poor don't pay ENOUGH? Dear lord, people are greedy in this country. What will be enough for the top 25%? 90% of the nation's wealth? 95%? 99%? Because that's exactly where we're headed if we keep on the path we're on.
And that's why a sales tax is the most fair. He who buys
the most, pays the most.
That would completely screw the poor.
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. We file married joint and my income is about 92k my daughter is still at home so I claim her and the interest on 200k mortgage. Last year I got @1500 back from the @7k I paid in
