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Subject Author Date
1099-MISC techjohnny@gmail.com 06-20-2008
---> Re: 1099-MISC Arthur Kamlet06-20-2008
| `--> Re: 1099-MISC Harlan Lunsford06-24-2008
---> Re: 1099-MISC removeps-groups...06-23-2008
| ---> Re: 1099-MISC techjohnny@gmai...06-24-2008
| `--> Re: 1099-MISC Harlan Lunsford06-24-2008
---> Re: 1099-MISC techjohnny@gmai...06-25-2008
| |--> Re: 1099-MISC removeps-groups...06-25-2008
|--> Re: 1099-MISC removeps-groups...06-26-2008
|--> Re: 1099-MISC techjohnny@gmai...06-26-2008
---> Re: 1099-MISC removeps-groups...06-27-2008
| ---> Re: 1099-MISC Harlan Lunsford06-27-2008
| ---> Re: 1099-MISC techjohnny@gmai...06-27-2008
| | ---> Re: 1099-MISC removeps-groups...06-27-2008
| | `--> Re: 1099-MISC Harlan Lunsford06-27-2008
| `--> Re: 1099-MISC removeps-groups...06-27-2008
---> Re: 1099-MISC Stuart Bronstei...06-27-2008
`--> Re: 1099-MISC Harlan Lunsford06-27-2008
Posted by Harlan Lunsford on June 24, 2008, 11:29 pm
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 techjohnny@gmail.com wrote:
> On Jun 23, 9:45 am, "removeps-gro...@yahoo.com" <removeps-
> gro...@yahoo.com> wrote:
>> wrote:
>>
>>> Now the IRS correctly reports that I owe them 800 that includes
>>> interest, and without any penalties yet. Of course paying 15.3
>>> percent or 370 for taxes, but can't I amend my '06 form and include
>>> the business expenses, which I never claimed I owned a business.
>> Were you open for business (eg. advertisting, making sales) when you
>> spent that 3k, or were you still in the startup phase?
>
> I basically went to the business and helped them with their computers,
> e.g., install new server, configured client machines, and helped
> maintain web/e-mail/file server for several months remotely.
>
> --tj
>
Then I'm puzzled, what kind of legitimate business deductions might you
have had to offset your income?

ChEAr$,
Harlan Lunsford, EA n LA

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Posted by Dick Adams on June 25, 2008, 11:50 am
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> So if I report $3000 in expenses can I include all of these
> in my deductions to nullify my increase in income?

Everyone here is pro-taxpayer. So please explain your
$3,000 in expenses and how they are documented.

Dick

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
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Posted by techjohnny@gmail.com on June 25, 2008, 7:57 pm
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On Jun 25, 8:50 am, rdad...@panix.com (Dick Adams) wrote:
> > So if I report $3000 in expenses can I include all of these
> > in my deductions to nullify my increase in income?
>
> Everyone here is pro-taxpayer. So please explain your
> $3,000 in expenses and how they are documented.
>
> Dick

Well... I guess I should pay the taxes now. The deductions aren't
well documented. Travel expenses and computer equipment, i.e, laptop
are probably the only two legit deductions.

--tj

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by removeps-groups@yahoo.com on June 25, 2008, 10:00 pm
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wrote:
> On Jun 25, 8:50 am, rdad...@panix.com (Dick Adams) wrote:

> > > So if I report $3000 in expenses can I include all of these
> > > in my deductions to nullify my increase in income?
>
> > Everyone here is pro-taxpayer. So please explain your
> > $3,000 in expenses and how they are documented.
>
> Well... I guess I should pay the taxes now. The deductions aren't
> well documented. Travel expenses and computer equipment, i.e, laptop
> are probably the only two legit deductions.

It looks like you were open for business, so you can take the
legitimate deductions. Maybe you should talk to a tax pro. You have
to calculate the business usage of your laptop. For example, if you
used the laptop for business 75% and pleasure 25%, you only get to
write off 75% off the cost of the laptop. As the laptop is an asset,
it has to be depreciated over a certain number of years (5 years for
laptops if I remember correctly). Roughly speaking you deduct only
20% of the total (which in my example is 75% of the full price of the
laptop). In addition, when you sell, junk, or give the laptop in the
future, you will have to recapture the depreciation you took over the
years; but if the sale price is zero then the net profit = sale price
- cost price + depreciation = 0 - 1000 + 1000 = 0. As regards
business travel, which includes not only airfare but also gasoline or
miles for the car you drive, it too is deductible. Once again, you
have to allocate personal miles, and business miles. Yeah, you have
to keep some such log for the miles you drive. I think if you make a
trip to Hawaii for business for 3 days but also vacation there for 1
day, I'd venture that only 75% (3 divided by (3+1)) of the airfare is
deductible. You can write to the IRS and tell them that you need more
time to prepare your amended return. You can also pay the money they
request with your request, and you'd get it back later -- including
the interest and penalties that they charged you. As for the receipts
you don't have, you can often dig them up by asking the stores you
purchased from for receipts: the info might still be in their
computers.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Dick Adams on June 26, 2008, 6:23 am
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> rdad...@panix.com (Dick Adams) wrote:

>>> So if I report $3000 in expenses can I include all of these
>>> in my deductions to nullify my increase in income?

>> Everyone here is pro-taxpayer. So please explain your
>> $3,000 in expenses and how they are documented.

> Well... I guess I should pay the taxes now. The deductions
> aren't well documented. Travel expenses and computer equipment,
> i.e, laptop are probably the only two legit deductions.

What are your "not well documented" expenses? Credit
card bills may be adequate documentation.

Dick

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>


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