tax notes

[vark]

i was asked about tax rates for mileage.

for 2016 it's 54 cents a mile. thismatter.com/money/tax/standard-mileage-rate.htm.

i keep one of those trucker's log books in my car and set the trip odometer when i leave for a study or screening, so i can write down my mileage as i go. but you can get by by just looking up the distance between your base and the clinic you are going to. at the end of the year add up your miles multiply by $0.54. your other option is to track you actual expenses, but i find those are less.
the mileage allowance is an example of imputed expenses, like the per diem meal allowance for out of town travel.

hotels, on the other hand, you need to track your actual expenses.

i should get better about always putting my work expenses on one credit card and not using it for any personal expenses, so at the end of the year i could just look at those 12 monthly bills.

[FloridaGirl]

Sept 22, 2016 7:14:49 GMT -5 vark said:

i was asked about tax rates for mileage.

for 2016 it's 54 cents a mile. thismatter.com/money/tax/standard-mileage-rate.htm.

i keep one of those trucker's log books in my car and set the trip odometer when i leave for a study or screening, so i can write down my mileage as i go. but you can get by by just looking up the distance between your base and the clinic you are going to. at the end of the year add up your miles multiply by $0.54. your other option is to track you actual expenses, but i find those are less.
the mileage allowance is an example of imputed expenses, like the per diem meal allowance for out of town travel.

hotels, on the other hand, you need to track your actual expenses.

i should get better about always putting my work expenses on one credit card and not using it for any personal expenses, so at the end of the year i could just look at those 12 monthly bills.

Thanks great info. I know that I will need to write off as much I can this year so appreciate the mileage link. 

[puntkicker]

I admit that it was me who asked Vark about that mileage thing, as it sounded ridiculously high to me(even considering depreciation) when I read it in his post(s) elsewhere. I'm grateful for the link and info, and will have to do more reading.

As mentioned to Vark, I have my own special feelings about paying an already unconsitutional income tax, when it is levied directly on my body. That's known by some as slavery, and I intend a full thread at a later time discussing it and taking in any info others are willing to share about filing or not, regardless of reason. I do plan to keep careful records though just in case of the worst case scenario where I cave in.

[mike]

It actually sounds low, I thought they raised it to 55.5 cents in 2014. The amount they use I think is for an ideal person with a nice car who changes their tires as soon as it's recommended; me, I can keep a car running for 2 or 3 cents a mile.

[travelingrat]

Sept 23, 2016 19:17:23 GMT -5 puntkicker said:

I admit that it was me who asked Vark about that mileage thing, as it sounded ridiculously high to me(even considering depreciation) when I read it in his post(s) elsewhere. I'm grateful for the link and info, and will have to do more reading.

As mentioned to Vark, I have my own special feelings about paying an already unconsitutional income tax, when it is levied directly on my body. That's known by some as slavery, and I intend a full thread at a later time discussing it and taking in any info others are willing to share about filing or not, regardless of reason. I do plan to keep careful records though just in case of the worst case scenario where I cave in.

I once researched this issue somewhat but lost the data and have not tried since.

if I remember correctly, lab rats did NOT have to pay tax until 2008, or AT LEAST there were some loopholes.

perhaps some veteran volunteers (pre 2008) remember soing about this? it was before I started in this strange vocation so I don't personally know for sure.

I wonder if the workers at the legalized brothels in NV pay taxes? that would definitely be a tax levied directly on the body!

I did sell plasma for awhile in AZ. there were many persons who sold every 4 days all year long. I don't know if they paid taxes either. (There was a compound in the returned fluid -- I think it was sodium citrate, don't remember now -- that caused me to pass out so I had to stop that revenue path hee hee).

again, I don't remember for sure any more but since you seem to be skilled at internet research, this may be a clue for you!

[FloridaGirl]

Sept 24, 2016 11:27:29 GMT -5 travelingrat said:

Sept 23, 2016 19:17:23 GMT -5 puntkicker said:

I admit that it was me who asked Vark about that mileage thing, as it sounded ridiculously high to me(even considering depreciation) when I read it in his post(s) elsewhere. I'm grateful for the link and info, and will have to do more reading.

As mentioned to Vark, I have my own special feelings about paying an already unconsitutional income tax, when it is levied directly on my body. That's known by some as slavery, and I intend a full thread at a later time discussing it and taking in any info others are willing to share about filing or not, regardless of reason. I do plan to keep careful records though just in case of the worst case scenario where I cave in.

I once researched this issue somewhat but lost the data and have not tried since.

if I remember correctly, lab rats did NOT have to pay tax until 2008, or AT LEAST there were some loopholes.

perhaps some veteran volunteers (pre 2008) remember soing about this? it was before I started in this strange vocation so I don't personally know for sure.

I wonder if the workers at the legalized brothels in NV pay taxes? that would definitely be a tax levied directly on the body!

I did sell plasma for awhile in AZ. there were many persons who sold every 4 days all year long. I don't know if they paid taxes either. (There was a compound in the returned fluid -- I think it was sodium citrate, don't remember now -- that caused me to pass out so I had to stop that revenue path hee hee).

again, I don't remember for sure any more but since you seem to be skilled at internet research, this may be a clue for you!

[172542]

Sept 23, 2016 19:17:23 GMT -5 puntkicker said:

I admit that it was me who asked Vark about that mileage thing, as it sounded ridiculously high to me(even considering depreciation) when I read it in his post(s) elsewhere. I'm grateful for the link and info, and will have to do more reading.

As mentioned to Vark, I have my own special feelings about paying an already unconsitutional income tax, when it is levied directly on my body. That's known by some as slavery, and I intend a full thread at a later time discussing it and taking in any info others are willing to share about filing or not, regardless of reason. I do plan to keep careful records though just in case of the worst case scenario where I cave in.

It was actually 57.5 cents last year so it has dropped. 

Any tax professional will have all of this information readily available if you don't want to file taxes yourself. I would recommend using a tax professional at least for your first time filing them if this is your full time "job" to ensure you maximize your deductions and tax liability.