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post #1 of 10 (permalink) Old 02-01-2006, 02:39 PM Thread Starter
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Tax Question???

So as some of you know, I am getting ready to start a Industrial Carpentry apprenticeship. If I get a work truck that is only used for work can I deduct that as a work expense on next year's taxes? How would that work?

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post #2 of 10 (permalink) Old 02-01-2006, 04:11 PM
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Yes and no. Your best bet would be to go in and talk with a tax professional and here is why.

You are not allowed to deduct to and from work expenses. Then you are not allowed to deduct work expenses that are rembursed. For instance gas. You would be allowed to deduct any work that you have to do to the truck. I don't think that you can deprciate it though because I believe that you need to have some sort of incorporation.

For carpentry however, we just did this for my brother, you can deduct all your tools, boots, clothes, safety equipment, belts, etc. that you personally purchased. So save your receipts.

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post #3 of 10 (permalink) Old 02-01-2006, 07:22 PM
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Unless someone here is a CPA, the only advice I would listen to would be to go to a CPA / Tax accountant and discuss it with them. Laws in each state are different. Even federal laws are different in each state. I know that sounds wacked, but if you live in an area hit by a hurricane, you'd know.

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post #4 of 10 (permalink) Old 02-02-2006, 09:04 AM Thread Starter
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Thanks for the advise. I'll have to talk to a tax person. I was kind of thinking it could some how be deducted because my sister is a realtor and she can deduct her car on her taxes because she uses it to take clients all over the place and she never really goes to the same place everyday; same with what I will be doing kind of, I won't be going to the same location everyday and my only use for the truck would be for work purposes. Taxes are confusing! I have to go ask a professional.

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post #5 of 10 (permalink) Old 02-02-2006, 09:07 AM
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Quote:
Originally Posted by Al_Florida
Unless someone here is a CPA, the only advice I would listen to would be to go to a CPA / Tax accountant and discuss it with them. Laws in each state are different. Even federal laws are different in each state. I know that sounds wacked, but if you live in an area hit by a hurricane, you'd know.
Graduate student with a major in accounting. CPA is not far off. For the area hit in a hurricane are you bringing up the EIC. Just the same. The state laws are different but the federal laws are the same.

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post #6 of 10 (permalink) Old 02-02-2006, 09:19 AM
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Quote:
Originally Posted by Midnight
Graduate student with a major in accounting. CPA is not far off. For the area hit in a hurricane are you bringing up the EIC. Just the same. The state laws are different but the federal laws are the same.
I'm sure you know a lot about accounting but you're not a CPA.

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post #7 of 10 (permalink) Old 02-02-2006, 09:25 AM
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You are correct I am not CPA. However last year I did volunteer work preparing taxes for inner city familys that could afford to go else where. If you think H&R block requires a CPA for employment then you are wrong. It only helps.


In case you haven't noticed all the accountants getting in trouble are CPA's.

Sprtnlax14: i was was up at 4:30 to hunt
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Sprtnlax14: whatever, the day you become a vegan we'll talk
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post #8 of 10 (permalink) Old 02-04-2006, 05:25 PM
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Well, I am only 17, but I have heard of the Minimum Tax something something.
Where you can only deduct a certain amount of your entire Tax sum.
If you exceed this percentage, they hit you with another rate or tax, so they can get more money out of you.
Make sure you all contact professionals before you go crazy deducting everything, you may get hit with that "penalty".

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post #9 of 10 (permalink) Old 02-04-2006, 05:39 PM
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Quote:
Originally Posted by Midnight
In case you haven't noticed all the accountants getting in trouble are CPA's.
Possibly its because the law says only licensed CPAs are allowed to give out tax advice?

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post #10 of 10 (permalink) Old 02-05-2006, 04:30 PM
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I give up you win

Sprtnlax14: i was was up at 4:30 to hunt
LtlLinds424: you did NOT just say hunt
Sprtnlax14: whatever, the day you become a vegan we'll talk
LtlLinds424: the day that you stop only spitting game and not producing girls in your bed... we'll talk

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