Does anybody know about...

[kombat96 10+ year member]

good info thank people, for trying to help me make a buck.

 

[Flipx99 5,000+ posts]

I seriously doubt your itemized deductions would exceed the standard deduction.

 

[Kawasaki STX-R 10+ year member]

I seriously doubt your itemized deductions would exceed the standard deduction.

x2

....taxes...the worst part about being an idependent contractor... //content.invisioncic.com/y282845/emoticons/blackeye.gif.66a1670f5aaf7f406e783a63e3387dc5.gif

 

[JAZN 5,000+ posts]

You can write off your gas purchases for commuting to and from work. You can't write off every bit of gas you have bought for that year, but some because it was used for your job. Have you thought about that?

Deductible transportation costs don't include the normal costs of commuting to and from your regular place of employment. However, there are 3 circumstances where you can deduct transportation costs:

1. You drive to work locations outside of your area.

2. If you normally work in one place, you can deduct transportation expenses to temporary work locations.

3. You work from home and you travel to regular/temporary places for other work.

Also, if you work two jobs, you can deduct the cost of driving from one job to the other. Deductions depend on the shortest, most normally traveled route between the two points, not what you actually drive.

 

[Flipx99 5,000+ posts]

Did not know about option 3....What is the rate...like .40 mile?

 

[JAZN 5,000+ posts]

.445 in 2006, I'm not sure about 2007.