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  1. #1
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    How does it work?

    I mean, do you have to do something in particular to get it, or you just show your receipt and that's it?

  2. #2
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    What kind of taxes are you talking about? Individual Federal income taxes? If so, you claim it on one of the forms in your tax return.

    Who are you going to show your receipt to?

  3. #3
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by jimbo2002:
    What kind of taxes are you talking about? Individual Federal income taxes? If so, you claim it on one of the forms in your tax return.

    Who are you going to show your receipt to?<HR></BLOCKQUOTE>

    I thought that to get tax deductions you had to show your business receipts to the person helping you to do the taxes (accountant, H&R Block). I don't think I can do it by myself.

    This is my first time doing this -filing income tax where I will have earned enough to pay taxes- and I'm very ignorant on the subject.

    Sorry if it was a dumb question, but thanks for answering!

  4. #4
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    If you are having someone do it for you, then you can just show them the receipt and they will know where to record it.

  5. #5
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    "I thought that to get tax deductions you had to show your business receipts to the person helping you to do the taxes (accountant, H&R Block). I don't think I can do it by myself."

    You're not "proving" anything to a tax preparer. You give them your receipts so they can best help you with your taxes. But as long as you're following the laws, you can do it yourself.

    As long as it's a bonified expense, you can take it. Ask an accountant anyway, just so you learn what you need to know.

  6. #6
    I like traffic lights
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    A lot of it depends on where you live.

    Assets such as computers are not mormally allowed to be 100% deducted in the year of purchased. Their value is depreciated on a set scale.

    Keep full records of ALL business related purchases and give them all to the person preparing your return.

    ****************************
    George Orwell got the date wrong

  7. #7
    Moderator MichaelColey's Avatar
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    You'll also want to look into Section 179 Deductions.

    Michael Coley
    Amazing-Bargains.com

  8. #8
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    Thank you guys, you all have helped me a great deal!

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