Expenses Knowledge Base
expenses??? About how much is spent on books in college? dorm? classes? please help!
How to claim home moving expenses for couples in Canada? I had home moved between 2 cities. I knew I was eligible for home moving expenses claim for myself. My question is that could my wife eligible for home moving expense claim. If yes, should we split the home moving expenses claim or can we claim some amount of home moving expenses individually? Thanks in advance.
How much expenses to expect for a holiday in vancouver island? i'm from asia. I'm planning to visit a friend who lives in vancouver island and i'm charting my expenses for travelling and food. How much should I expect in spending for food on a daily basis? I would also be most appreciative if you have other miscellaneous expenses to add to that. Thank you.
What Medical Expenses are subject to the Alternative Minimum Tax? The Alternative Minimum Tax may affect many people because of deductions they claimed for medical expenses (in addition to other things). I'm wondering what "medical expenses" means. Is there a even a single definition or does the criteria differ from household to household?
Tax deductible for expenses related to body building context? I have participated to body building competition in 2007 and won number two in the trial states. Will I be able to deduct the training related expenses for tax deduction? If I could, what other related expenses that I could deduct (such as vitamin, etc)? This competition is not professional, it is for amateur. Thank you!
What are the expenses a crew member for a cruise ship would have? I'm wondering what extra expenses cruise crew members would have. Of course room and board are paid for, but are there other things to spend money on on the boat? What would monthly expenses run on the cruise ship? For example, how much would a beer be in the crew bar?
What expenses can you expect to occur if you run a business as an employer, partnership or contractor? My lawn business is growing and I am trying to decide which method would work the best for my business when it comes to paying expenses like taxes, workers comp., insurance and etc., and what credits would be available to me for each. Should I operate my business as an employer, partnership or contract my equipment and work out to individual people? This is my 5th year cutting. I am doing 200 cuts per month and I expect to do at least 500 per month in 2011.
What expenses should I consider when operating a horse boarding facility.? I'm considering purchasing a facility and establishing a horse boarding facility in the SF Bay area. I have done some research, including reading "Horsekeeping on a small acerage", and probably have a handle on the obvious per horse expenses. What are ballpark planning numbers for utilities, insurance, maintenance, stable hand, manure removal, etc? Where can I find them?
What expenses can I expect to pay after a house inspection during the sale of my house? I am currently pending the sale of my house, and the buyer should be getting a house inspection done on my property within the next week. What kind of expenses (and possibly how much?) can I expect after the inspection is done? My house is only 11 years old, and has no major issues that I am aware of. Also, I bought the house about 1 1/2 years ago, and had only a few minor things wrong with the house during that inspection, and nothing major has changed since then. Any help would be great, this is my first experience in this type of thing. Thank you!
What expenses should an employer cover for relocation? If I move across the country to accept a job offer, I know to ask the employer to pay for the cost of the moving van. I guess I'll have to drive there, so I have my car, and it will take maybe a week. Should they cover the hotel for all those nights? The gas to get there? What about hotels until I find a place to rent? Other expenses? I'm not an executive, so this isn't a red carpet kind of thing. I'm not out to gouge them. I just want to know what it's fair and customary to ask for.
What are the initial and ongoing expenses of buying a house? Soon I would like to purchase my own property and although I have a decent deposit and a regular income to cover my mortgage repayments, what other expenses should I be planning for? What are some initial expenses and what are the other (hidden) ongoing expenses? (Please just list them with approximate annual costs in £) e.g: Initial: Solicitors fees = £??? Stamp duty = 1% - 3% Ongoing (annual): Mortgage repayment = £??? Insurance = £??? Council tax = £??? Thank you!
How I can defer my medical expenses to a year with more income? Is there anything I can do? It doesn't seem to make sense that medical expenses can't be used to offset income in later years. People with the highest expenses are those who probably have the least income because they couldn't work. Yet because medical expenses can't be deferred the deductions go to waster. Any help would be appreciated. Thanks. The govt let us defer capital losses but not medical expenses. Total BS! Thanks for your help.
Are transportation expenses tax deductible for driving regularly to multiple work locations? My husband regularly drives to 4 different work locations. Usually he spends an entire day at each location, but he has one location that is his "home" office. Occasionally, he drives from one location to another - afterward he may go back to the original location or drive straight home. He gets a monthly fixed car allowance, which was included in his taxable income on his W-2. From what I understand, that makes it a "non-accountable" plan. He does have good records of where he went on what days. How do we calculate the tax deduction for his auto expenses?
How do I track my expenses and credit card dues? I think I’m a compulsive spender. With a great deal of difficulty I paid off all my credit card dues. I want to keep a tab on all my expenses now on. Scribbling daily expenses in bits of paper is also not working for me.
What other expenses are there when making a budget? I am making a budget for school assuming you have to live for one month by yourself. Expenses that I included were rent, electricity, heating, telephone, and food. What are other expenses do I have to pay? I am using a bike so don't suggest gas or car expense. Also, on top of my minimum wage job I still have to go to school. Thanks.
What portion of real estate expenses do I report on Scehdule E? Hello, I rented out a house starting Oct 1, 2009. Since the house was rented only for 3 months, do I report expenses, such as mortgage and tax, only for the three months on Schedule E and rest on Schedule A or do I need to report expenses for the whole year on Schedule E? Thank you Indy Thank you both for the response....
What is a difference between car allowence and getting expenses? What is a difference between car allowence and getting expenses? i am a sales person. i used to travel on trains/planes and my expenses were refunded monthly. in my new job i am gonna receive a car allowance - how is that related to my expenses when visiting clients? should that cover all my customer visits no matter how much i really spend visiting them?
Deducting expenses related to short term consulting job with full time employer? My full time employer is based in New York City. I am being sent to Miami for a 9 month job with a subsidiary company for which I will need to find an apartment and commute to and from the satellite office. Since I will technically be out of town for those 9 months, is any portion of my Miami rent, commuting expenses or meals deductible as business travel expenses?
How to set up an account in quickbooks to track expenses without any cash/deposits? Hello, I am new to quickbooks. Is there any way to set up a new account to keep track of expenses, that is not an real bank account? That doesn't have any deposits? I just want a 'bank account' setup where I can enter transactions for expenses to keep track of them, but this is not a real bank account, just to keep track of expenses. Not having any deposits. Thanks.
Are daily travel expenses to get to college tax deductable? I spend about 300 a month taking Amtrak to get to class. Can I write this off for 2007. I heard something about if you parents claim you as a dependent and they write off college expenses that I cant... For 2007, they will be writing off some college expenses, so can I for 2007? For 2008, they will NOT be writing off college expenses, so can I for 2008?
How do you file expenses in your taxes? And would they ask for proof of your expenses? Cause the only proof I got are reciepts sent to my e-mail from paypal like years ago, do you think those would work?
What are the monthly expenses that would be added to my monthly mortgage? 1)I am planning to buy a new home for the first time . What expenses(payment) would be added to my home mortgage like home insurance, mortgage insurance etc? 2)How can I lower my monthly mortgage? Some of my friends told that I have to pay at least 20% down payment rather than paying those amount after one year or so to lower monthly mortgage . Thanking in advance.
Can you deduct for business expenses if you are not a business owner? I am a physician and a salaried employee of a university, however I have a lot of expenses that I believe fit into business expense deductions. Such as education expenses, a personally bought notebook computer for work related reasons, ect. I am using turbotax. Can you be an employee, not self employed, and still deduct for these types of business expenses? Appreciate any help.
what is the living expenses for a couple in Paris? I am an indian and will be moving to Paris on an assignment and planning to take my wife and infant son. What will be approximate monthly living expenses like apartment rent, food, commute..etc? I dont plan to buy a car.
How much are the expenses to live in California ? Okay so I would greatly appreciate if you could help me. I am planning on moving to L.A California with my friend. It would help a lot to know the living expenses are, the utilities, medical dental and car insurance and everything else. And if it even possible that we'll make it I'm gonna try anyways just would like to know. I'm going into acting and/or business I'm already a CNA. But could you please tell me some acting schools also thanks.
What are all the expenses if you want to buy a helicopter or a private jet? Expenses such as do you need to pay the government something extra every time you fly? How much would the fuel cost? The insurence? The cost for using the airport runway and the hanger to store the jet or helicopter? Or any other charges that I am unaware of!! I know there are different price tags on jets and helicops, but think about the cheap but safe types!! Overall howmuch would it cost yearly?
What should my monthly expenses be when I move to Honolulu, Hawaii? I am hoping to move to the Honolulu area in 6 months to a year and in the mean time I am trying to save up money for a buffer for certain expenses I somewhat expect but is it so hard to find honest and open answers on what to expect for monthly expenses. I am going to be by myself and I plan on buying a small condo so putting the mortgage or rent aside what other monthly expenses should I expect? Bills? Fees? Groceries?Etc? Thank you.
How can I claim vehicle expenses as part of my itemized deductions? I had enough in deductions that I was able to itemize. I noticed that using the tax software I have, it asks me about vehicle expenses and commuting to work. My wife and I each put about 20k miles a year on our vehicles, most of which is commuting to work. What exactly can I claim?
What type of expenses does a content website usually have? I know this is really relative for many content websites, but what type of expenses usually are present if you run a content website as a commercial activity (making money through advertisers)? Like say you design the website on your own, what are the expenses besides domain registration,hosting,taxes(how much are they?) and maybe marketing?
How do full time olympic comptetitors pay their living expenses ? How do full time sportsmen and sportswomen pay for their daily living expenses ? I know that sports receive lottery money, but does this just cover training costs, equipment, and travel expenses ? How about living costs such as a mortgage, council tax, utilities bills etc Thanks
How can i claim baby sitter expenses or Child credit? I'm trying to play it fair and save with uncle sam. I have a 15 month old daughter that usually goes to two older citizen that i know. One is a member of my church. And the other is just a friend of my grandparents. The problem both of them are from another country and neither of them have a social security number. I paid over a total of $4000 dollars in babysitting charges last year, but all of it was in cash and no record of payment. Is there a way i can get child credit or any sort of deductions for this expenses. Please advise Thanks
Where can I find which of my expenses can be paid through my small corp? I am a consultant/independent contractor and get paid through my corporation. Where can I find which of my expenses - phone, gas, cell phone, etc - I can pay through my business account? (something easier to understand than the IRS site preferably) Any tips or suggestions also appreciated!
How can we divide tax income and expenses? My boyfriend and I are planning to start selling things on eBay. We want to split the income. Obviously the account will need to be set up through just one of us for now as we begin and see if it is something worth doing. I know the basics of how taxes work with sole proprietorships in terms of paying tax on income and keeping records of expenses, but how can I "pay" him, vise versa or divide the income? We don't want to combine our taxes in any other way.
What expenses should I expect when I receive a car as a gift? I've been offered a car as a gift and am concerned about the expenses that might surmount after I receive it. The car is in NY and I'm in Fl. Before it gets to Fla will I have to get it registered and insured here(Fla)? After I receive it I don't plan on using it to commute, but rather keep it in the garage for the mean time. Has anyone else been in this experience? Can you give me an idea of what I should expect? Thanks in advance.
How can I get a loan for expenses related to college? I am in need of child care expenses & my rent. I have am currently working in my school under the federal work study program but that is not enough to cover my expenses. I would like to know if I could take a Stafford Loan to cover other expenses while being in school. I am enrolled full time. This is a serious matter so anyone with sarcastic comments please keep them to yourself. .. ... I am in school right now and this is my first semester. I believe next month is when I should apply for next semester or spring semester. How am I late when this semester just started my first semester..
How to claim my vehicle expenses in Canada? I bought a brand new car in 2007. During 2007, I used it for work. I also used it for moving and for medical trips. So my question is can I claim what these expenses? I read at Revenue Canada website that I can either use the detailed or the simplified method. I want to use the detailed method. So how much can I claim? Thanks in advance.
Are the expenses incurred for my new business tax deductible? Hi, I started a new LLC company recently. I am incurring some expenses for setting up my company. But, there may not be income generated for atleast one year. Since I have only expenses and no income, can I claim 100% tax deduction when I file my taxes next year? Also, does the percentage of tax deduction that I can claim for my new company - depend on my income bracket from my regular (other) job?
How do I collect child care expenses that my ex is ordered to pay? My ex is court ordered to pay 50% of child care expenses. My daughter recently started preschool as a result of my employment and my ex is refusing to pay his share, claiming that he can't afford it. He is active duty in the Air Force. I can't afford to pay it all and need to collect his share ASAP. I live in California. The child support office won't collect anything other than child and spousal support, so they're no help to me when it comes to medical or child care expenses.
What's the best way to handle out-of-pocket start up expenses in a Quickbooks file? I'm setting up a new file for a new company. I need to know the best way to account for some expenses, like postage and professional services, that were incured in the process of starting the business. The owner paid cash, out of pocket, before the business checking account was established, and does not want to be paid back, but does want to show the expenses against any profits. For the things like supplies I debited the asset account and credited capital stock, but I don't know what to do with the expenses. I don't want to show a liability by creating a payable account, so I'm at a loss. Should I treat it as petty cash? How?
What is a difference between car allowence and getting expenses? i am a sales person. i used to travel on trains/planes and my expenses were refunded monthly. in my new job i am gonna receive a car allowance - how is that related to my expenses when visiting clients? should that cover all my customer visits no matter how much i really spend visiting them?
Is it legal for employer to pay the expenses to employee by personal check? My friend's with some company A. The company provides training to their employees and then send them to work with its client companies as a contractor. On training the company A does pay anything to my friend and there is no contract signed between him and company. My friend just gets the expenses paid of upto $200.00 per month and his company(company A) pays him these expenses by personal check. Is it legal to get his expenses paid by his company with personal check. Also I would like to mention that my friend is on student visa.
Can I write off funeral expenses already paid for an insolvent relative as a bad debt? I had a relative die and paid the funeral expenses personally, expecting to be paid back by the estate. Subsequently, I found that the estate was insolvent. No one, myself included, is going to probate the estate. There was literally no cash on hand and the debts dwarf the assets, so there's no way to even get an attorney paid. Can I deduct the funeral expenses from my federal income tax as a bad debt?
Can I claim my tollway expenses on top of my mileage in my taxes? Now that the question I had previously has been answered (regarding claiming things over my mileage), how about tollway expenses? Since I'm only claiming my mileage (which gets me more money), no repairs, maintenance, gas, etc., can I claim my tollway expenses?
How electric companies make money and what kind of expenses theyhave? I guess I am trying to understand how an electric company makes profit in their line of business. Obviously, they have some sort of expenses and what they are? Can anyone help me understand this? Do these electric/energy companies depend on something or some products in order for them to provide energy.
Which common expenses can you deduct from your income tax in Canada? I just learned that I can deduct medical expenses. I did not know that in the past. What other common expenses can you deduct that I don't know about? The only thing I have deducted in the past is charity contributions. I work as a helper for a contractor in construction, are there any expenses I can deduct with that? Tools? Work clothes? Safety gear?
Opening a business and wondering what types of expenses I can write off? I am opening an online business for website design. (set up as a LLC, I'm the sole owner) Should I start keeping receipts of all business related expenses? Or would my business qualify as a hobby if I don't make a certain amount of money in the year that I'm filing. What types of things can I write off onto my business? (dinners, gasoline, etc.) Do I need a seperate business credit card/bank account for the expenses? Do I have to accept payments towards the business's services through a corporate account, or can they make the check/payment directly to me?
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