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Old 01-22-2016, 01:04 PM   #41
NFRs2000nyc
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Does anyone know the answer to this? I'm a board member of two 501c3's. Is my time/travel deductible?
Can't give you an accurate answer, but I think Hilary Clinton can.
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Old 01-22-2016, 01:35 PM   #42
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Does anyone know the answer to this? I'm a board member of two 501c3's. Is my time/travel deductible?
you can deduct for the mileage either the actual gas cost or take the standard per mile rate for distance. your time volunteering or traveling is not deductible.

i should start charging you motherfvcers for this advice!
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I always have to laugh when I see a thread described as "Not Work Safe." Is there anything on the OT forum that's really "work safe"? If I were your boss, I'd be mad if you spent any time on this forum at work at all. How is a picture of a naked girl any less work safe than, say, a picture of a matador getting gored in the *** by an angry bull? - VaderDave
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Old 01-22-2016, 01:37 PM   #43
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you can deduct for the mileage either the actual gas cost or take the standard per mile rate for distance. your time volunteering or traveling is not deductible.

i should start charging you motherfvcers for this advice!
Excellent.
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Old 01-22-2016, 01:49 PM   #44
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To be honest, most CPAs, especially low dollar CPAs (btw, many people do their taxes with non CPAs thinking they are CPAs) treat clients like an assembly line, and have their staff do all the work, and they just sign off on it at the end, without reading it. Same exact way as real estate attorneys (biggest scam in the history of law), closings, etc. Just have the 13 dollar an hour troll do all your paperwork, and hope the IRS is too busy to notice.
I'd usually have to pay $450/hr to get my taxes done by a CPA.

All of the assembly line people are CPA's.

The one signing at the end is just a more senior CPA.
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Old 01-22-2016, 02:37 PM   #45
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you can deduct for the mileage either the actual gas cost or take the standard per mile rate for distance. your time volunteering or traveling is not deductible.

i should start charging you motherfvcers for this advice!
Are you an accountant?
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Old 01-22-2016, 03:15 PM   #46
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I'd usually have to pay $450/hr to get my taxes done by a CPA.

All of the assembly line people are CPA's.

The one signing at the end is just a more senior CPA.
Usually costs me around $700-$800 to do my personal (wife too) and business taxes, although my business stuff isn't too complicated. Thats one area I don't mind spending good money....I have no interest in IRS dealings.
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Old 01-22-2016, 03:17 PM   #47
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Are you an accountant?
no, but i slept at a holiday inn express last night i also have a lot of practical experience with personal and corporate finances and taxes.
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I always have to laugh when I see a thread described as "Not Work Safe." Is there anything on the OT forum that's really "work safe"? If I were your boss, I'd be mad if you spent any time on this forum at work at all. How is a picture of a naked girl any less work safe than, say, a picture of a matador getting gored in the *** by an angry bull? - VaderDave
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Old 01-22-2016, 04:49 PM   #48
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no, but i slept at a holiday inn express last night i also have a lot of practical experience with personal and corporate finances and taxes.
Either way, good. Because we have more questions.
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Old 01-24-2016, 01:40 PM   #49
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It's a great time to not be legally married.
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Old 01-24-2016, 03:34 PM   #50
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It's a great time to not be legally married.


Enlighten us
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Old 01-24-2016, 09:33 PM   #51
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For dual income, non poor couples, tax rates are higher when you are married. Pretty basic stuff.
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Old 01-24-2016, 09:59 PM   #52
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For dual income, non poor couples, tax rates are higher when you are married. Pretty basic stuff.
Most def. It fvcking sucks.
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Old 01-24-2016, 10:07 PM   #53
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I'm psyched because it'll take a while for wifey to get her SSN and start working in the US so I'll be enjoying a single income non poor couple status and save a boatload on taxes
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Old 01-24-2016, 10:43 PM   #54
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For dual income, non poor couples, tax rates are higher when you are married. Pretty basic stuff.
Honestly thought you were going to post some asinine statement out of your ass.

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Most def. It fvcking sucks.
Why not just file married separately?

Tax Time: Should a Married Couple Ever File Separately?
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Old 01-24-2016, 11:00 PM   #55
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Open your own business, then you can do deductions left and right.
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Old 01-24-2016, 11:22 PM   #56
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Why not just file married separately?

Tax Time: Should a Married Couple Ever File Separately?
It's not worth it for us to do that. We don't have drastically unequal incomes (which is generally the only time to do so).

My wife is a CPA, she's pretty good at this stuff.
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Old 01-24-2016, 11:58 PM   #57
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Even when you file separately you pay higher tax rate. It doesn't matter.

Anything over like 75k per person. It's pathetic.
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Old 01-25-2016, 12:17 AM   #58
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It's not worth it for us to do that. We don't have drastically unequal incomes (which is generally the only time to do so).



My wife is a CPA, she's pretty good at this stuff.
I guess "drastically unequal incomes" also depends on which tax brackets each spouse is in, but if one spouse is unemployed or in the lowest tax bracket and the other is in one of the higher ones, then you're best off filing jointly to maximize the standard deduction ($12.6k vs $6.3k). The joint amount could potentially (of course cases vary) be more effective for the higher income spouse.

Best way is to try going separate using turbotax and compare with the joint scenario. There are other limitations with filing separately like not being able to claim student loan interest. Separately would be good when you have high out of pocket medical expenses so you might be able to claim more if the spouse that incurred the most expenses has the lower AGI (so the expenses can exceed the lower limit of 10% of the lower AGI).
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Old 01-25-2016, 12:36 AM   #59
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I guess "drastically unequal incomes" also depends on which tax brackets each spouse is in, but if one spouse is unemployed or in the lowest tax bracket and the other is in one of the higher ones, then you're best off filing jointly to maximize the standard deduction ($12.6k vs $6.3k). The joint amount could potentially (of course cases vary) be more effective for the higher income spouse.

Best way is to try going separate using turbotax and compare with the joint scenario. There are other limitations with filing separately like not being able to claim student loan interest. Separately would be good when you have high out of pocket medical expenses so you might be able to claim more if the spouse that incurred the most expenses has the lower AGI (so the expenses can exceed the lower limit of 10% of the lower AGI).
We've run the numbers a bunch of different ways to try and find the best way to do our return. Like I said, wife is an accountant so she generally knows what she's doing.

We're in the same tax bracket and I can't claim student loan interest anyway. Make too much money and Obama says I can't catch a break on student loan stuff. Poor people need new sh1t and something has to pay for that. I have no medical expenses to claim let alone ones that would get me to 10% of AGI.

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Old 01-25-2016, 12:44 AM   #60
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We've run the numbers a bunch of different ways to try and find the best way to do our return. Like I said, wife is an accountant so she generally knows what she's doing.

We're in the same tax bracket and I can't claim student loan interest anyway. Make too much money and Obama says I can't catch a break on student loan stuff. Poor people need new sh1t and something has to pay for that. I have no medical expenses to claim let alone ones that would get me to 10% of AGI.


Left biz school with 80k of debt and was so peeved I couldn't get $0.01 of tax relief from it. Canada applies your tuition AND loan interest to reduce your taxable income regardless of your tax bracket. Other amazing part of Canada being the 51st state of the US is that I claimed my MBA tuition on my Canadian taxes (they allow all US tuition to be counted) which is being carried forward until I decide to get a job in Canada again...just sitting on ice for me to get a juicy tax credit my first year back there...not any time soon cuz Canada's economy is in the sh1tter.
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