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| Tax deductions?; How do you keep track? | |
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| Tweet Topic Started: Mar 9 2006, 02:28 PM (316 Views) | |
| BeeLady | Mar 9 2006, 02:28 PM Post #1 |
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Middle Aged Carp
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I am trying really hard to document my expenses in my new found career (Realtor).....Thank goodness for Excel! But it has been awhile since I have done this and I wonder how others keep track of mileage in particular. Keeping a daily log is a drag.....ugh.... Someday someone will invent an odometer that you punch upon entering the car, punch exiting and have it keep track of all your business related travel! Maybe I am missing something and there is such a thing? Justme, how are you doing it? April 15 will be here before I know it!
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"My wheel shall sing responsive to my tread, And I will spin so fine, so strong a thread Fate shall not cut it, nor Time's forces break" "Distaff and Spindle: Sonnets by Mary Ashley Townsend" 1895 | |
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| The 89th Key | Mar 9 2006, 02:38 PM Post #2 |
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I also had a question about mileage. Do you just put the number of miles and the reason? Or do you have to keep gas-station receipts? Good questions BeeLady, and good luck with the Realtor stuff!
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| BeeLady | Mar 9 2006, 02:50 PM Post #3 |
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Middle Aged Carp
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Thanks, 89th. I am lovin' it! As for the rules, I find little. Most, to me, sound like the dark ages when I was on the road 20 years ago. I have been logging not just mileage but my odometer reading before and after as well as the reason and location of trips. Sounds ok for occasional trips but 5-6 times a week is getting tedious. Maybe I need to come up with a meter device for the dash board!
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"My wheel shall sing responsive to my tread, And I will spin so fine, so strong a thread Fate shall not cut it, nor Time's forces break" "Distaff and Spindle: Sonnets by Mary Ashley Townsend" 1895 | |
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| schindler | Mar 9 2006, 03:29 PM Post #4 |
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Fulla-Carp
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Beelady: This is a sheet my dad made up to keep track of business miles on our car. Maybe it will gives some ideas.
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| We're all mad here! | |
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| BeeLady | Mar 9 2006, 04:12 PM Post #5 |
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Middle Aged Carp
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Schindler....Walmart???? There has got to be a better (more automated) way..... |
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"My wheel shall sing responsive to my tread, And I will spin so fine, so strong a thread Fate shall not cut it, nor Time's forces break" "Distaff and Spindle: Sonnets by Mary Ashley Townsend" 1895 | |
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| The 89th Key | Mar 10 2006, 08:07 AM Post #6 |
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Schindler, nice font. It's fontastic! |
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| Mark | Mar 10 2006, 08:11 AM Post #7 |
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HOLY CARP!!!
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It's is so very disgusting that we are micro-managed in such a manner.
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___.___ (_]===* o 0 When I see an adult on a bicycle, I do not despair for the future of the human race. H.G. Wells | |
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| Mikhailoh | Mar 10 2006, 08:15 AM Post #8 |
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If you want trouble, find yourself a redhead
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Just make them up as you do your taxes. Extra points for creativity. |
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Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
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| ivorythumper | Mar 10 2006, 08:48 AM Post #9 |
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I am so adjective that I verb nouns!
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I shared that joke with my friend who is an IRS agent. He laughed, and then asked me for your address and SSN. |
| The dogma lives loudly within me. | |
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| schindler | Mar 10 2006, 08:54 AM Post #10 |
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Fulla-Carp
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:lol: Yippes!
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| We're all mad here! | |
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| big al | Mar 10 2006, 12:26 PM Post #11 |
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Bull-Carp
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Out of long habit, I just keep expenses in a categorized pocket diary from which I tranfer by hand to expense account spreadsheet (I work for an employer so my expense accounts have to follow their format and code of accounts). I suppose there is probably a PDA application that would perform the same function and automate the download to whatever database you wanted the expense info in, but I haven't looked for one. I'm only occasionally on the road and the old tried-and-true diary and pen satisfy my needs and gives me a place to stuff the receipts until I complete my account. Does anyone have a particular tech solution that they like (as long as we work in the present tax code structure, we're not going to escape documenting expenses)? Big Al |
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Location: Western PA "jesu, der simcha fun der man's farlangen." -bachophile | |
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| Mikhailoh | Mar 10 2006, 12:31 PM Post #12 |
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If you want trouble, find yourself a redhead
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It's cool. Just give him yours. Actually, even being self-employed, I have no real way that I could cheat and reap any significant benefit. All my income is reported 1099, and my expenses well documented and reimbursed. If I were to cheat I woudl have to make things up out of whole cloth, which is inadvisable. You don't have to be right in an audit, but you had better have a position on why you did what you did. |
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Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
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| ivorythumper | Mar 10 2006, 12:54 PM Post #13 |
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I am so adjective that I verb nouns!
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I thought you would have figured out that I was kidding. IRS agents are incapable of laughing.
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| The dogma lives loudly within me. | |
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