What happens when an employee deducts as much as he earns? - GoFuckYourself.com

MrMaxwell · 11-20-2013, 06:07 PM

How does that work? I was going to carry newspaper bundles (not deliver them to residences, but to the distribution centers) and I'm curious to know if the .48/mi deduction would apply for that. I'd be driving 204 miles per day. They would only be paying me $700/wk though. So if I'm paid $36k/yr and have nearly $36k in deductions, what happens then?

candyflip · 11-20-2013, 06:09 PM

Good lord you are retarded.

MrMaxwell · 11-20-2013, 06:12 PM

Quote:

Originally Posted by candyflip

Good lord you are retarded.

Thank you for you input. .

SilentKnight · 11-20-2013, 06:14 PM

Did they deny your Mensa application again?

MrMaxwell · 11-20-2013, 06:19 PM

Quote:

Originally Posted by SilentKnight

Did they deny your Mensa application again?

Sure, funny guy,
In fact... I missed mensa by eight points when dupont tested me at age eleven or twelve, and, there are no exceptions.

Penny24Seven · 11-20-2013, 06:28 PM

come on man, Google will tell you this faster then on here.
I remember having to claim 150K and wrote off about the same amount. You still have to pay SS no matter what. Just google it because I pay someone to do all this crap for me

Coup · 11-20-2013, 06:31 PM

Quote:

Originally Posted by MrMaxwell

what happens then?

an audit.

probably

MrMaxwell · 11-20-2013, 06:32 PM

Google cannot hold a candle to the brilliance of gfy
Never

the Shemp · 11-20-2013, 10:53 PM

Quote:

Originally Posted by MrMaxwell

How does that work? I was going to carry newspaper bundles (not deliver them to residences, but to the distribution centers) and I'm curious to know if the .48/mi deduction would apply for that. I'd be driving 204 miles per day. They would only be paying me $700/wk though. So if I'm paid $36k/yr and have nearly $36k in deductions, what happens then?

are you an employee or a contractor?

ErectMedia · 11-20-2013, 11:14 PM

Generally you can write off losses for a few years as they can accept a start up losing in the beginning, after a few years they say you have a hobby not a job, get a job and don't write shit off anymore loser.

MrMaxwell · 11-20-2013, 11:21 PM

Quote:

Originally Posted by the Shemp

are you an employee or a contractor?

It would be a contract position.. that matters, right? Like if I was an actual employee I would get fucked out of the deduction- yes? I have always wondered about that. If the stealermint is going to call labor exchange "income", then, why can't normal people deduct their mileage...

MrMaxwell · 11-20-2013, 11:21 PM

Quote:

Originally Posted by ErectMedia

Generally you can write off losses for a few years as they can accept a start up losing in the beginning, after a few years they say you have a hobby not a job, get a job and don't write shit off anymore loser.

Shut it up one shit at a time, would you, you are being very rude.

the Shemp · 11-21-2013, 01:11 AM

Quote:

Originally Posted by MrMaxwell

It would be a contract position.. that matters, right? Like if I was an actual employee I would get fucked out of the deduction- yes? I have always wondered about that. If the stealermint is going to call labor exchange "income", then, why can't normal people deduct their mileage...

im in canada now, so i cant speak to usa labour law, but if the contract requires the use of a vehicle, you should be able to deduct expenses, including gas, maintenance, insurance etc...now if you also use the vehicle for personal use, you would have to pro-rate those expenses, so you would have to determine the % used for the contact and claim deductions on that..

baddog · 11-21-2013, 01:16 AM

After a few years of that it becomes a hobby and no longer deducible. But that is easily done with a new business and not uncommon.

Fat Panda · 11-21-2013, 12:09 PM

just wow.

xNetworx · 11-21-2013, 12:17 PM

media · 11-21-2013, 12:21 PM

Honestly you'll probably get audited because of the ratio of deductions to income..

But when I was driving a lot for work trips between three different state offices, I was doing about 1600 miles a month.. all the time every month.. back then the deduction was $0.35 per mile.. so I was racking up $560 per month in deductions easy, plus lodging and meal expense deductions..

I'd still have to pay out my ass with quarterly estimated payments and then with what I'd owe at the end of the year.. but the deductions basically helped offset the cost of the car I was purchasing.. I also got to write off the interest on the car..

My accountant would not allow anything that was not above board.. so I had trip sheets for every trip, detailing milage, I'd also keep gas purchase reciepts to document the milage/fuel usage..

You can only do standardized mileage deduction OR the cost of repairs and gas to the vehicle.. not both.. usually the standardized mileage deduction is the best option..

slapass · 11-21-2013, 01:05 PM

Quote:

Originally Posted by MrMaxwell

Shut it up one shit at a time, would you, you are being very rude.

WTF? That was the right answer.

Itchy · 11-21-2013, 02:47 PM

Quote:

Originally Posted by the Shemp

im in canada now, so i cant speak to usa labour law, but if the contract requires the use of a vehicle, you should be able to deduct expenses, including gas, maintenance, insurance etc...now if you also use the vehicle for personal use, you would have to pro-rate those expenses, so you would have to determine the % used for the contact and claim deductions on that..

Yea I learned the hard way Don't use a company car for personal use

4000 klm's a month back and forth to work sure fucked me at tax time ...

fitzmulti · 11-21-2013, 02:48 PM

"Dear I.R.S.,
Sorry I fucked my taxes up, but I was asking for advice on GoFuckYourself.com and I guess I got such a variety of advice, I messed my taxes up.
Sorry I just didn't go to H&R Block..."

ErectMedia · 11-21-2013, 08:59 PM

Quote:

Originally Posted by slapass

WTF? That was the right answer.

Think he thinks I was talking shit instead of me using it as an example of what they would tell him if he reported losses for more than 2-3 years in a row. Thanks though

I'll be sure to stay outta his next thread which will probably be something like...

My probation appointment falls on a holiday, should I go the day before or the day after the holiday

L-Pink · 11-22-2013, 02:09 AM

Quote:

Originally Posted by ErectMedia

Think he thinks I was talking shit instead of me using it as an example of what they would tell him if he reported losses for more than 2-3 years in a row. Thanks though

I'll be sure to stay outta his next thread which will probably be something like...

My probation appointment falls on a holiday, should I go the day before or the day after the holiday

Lol lol .....

MrMaxwell · 11-22-2013, 02:28 AM

Quote:

Originally Posted by ErectMedia

Think he thinks I was talking shit instead of me using it as an example of what they would tell him if he reported losses for more than 2-3 years in a row. Thanks though

I'll be sure to stay outta his next thread which will probably be something like...

My probation appointment falls on a holiday, should I go the day before or the day after the holiday

"get a job and don't write shit off anymore loser." is what you said
So I told you to be quiet

Sunny Day · 11-22-2013, 05:29 AM

Quote:

Originally Posted by MrMaxwell

How does that work? I was going to carry newspaper bundles (not deliver them to residences, but to the distribution centers) and I'm curious to know if the .48/mi deduction would apply for that. I'd be driving 204 miles per day. They would only be paying me $700/wk though. So if I'm paid $36k/yr and have nearly $36k in deductions, what happens then?

You can use the mileage deduction or the actual costs. Usually people use the mileage as it's easier to track. You can use either, but not both. Your checks from the newspaper are proof you made the deliveries. Just keep the check stubs or at year's end ask for a printout of deliveries. Your 1099 is proof it's not a hobby. The IRS knows the difference between delivery driver and someone who deducts travel to resorts to post on their travel blog.
However, you'll come to realize as most people who do small deliveries, using their car, the payment you receive only covers your gas and a token amount for your time. In no way does it include the wear and tear on you vehicle. That's why this type of job or messenger jobs are always listed in the employment sections. It doesn't take long to figure out it's a money losing business.
You're going to put close to 75,000 miles a year on your car if you deliver every day. That will wear out even a new car in 2-3 years. Do the math. What you're earning doesn't even cover replacement cost.

ilnjscb · 11-22-2013, 08:25 AM

The likelihood of you getting audited if you keep good records and are meticulous is very low at that gross income. There is nothing wrong with taking a loss, however, you cannot deduct insurance premiums if you do.

L-Pink · 11-22-2013, 08:40 AM

When your simple mileage deductions are close to your total earnings you have zero chance of making money. This is even more true if you are hauling heavy loads.

Sly · 11-22-2013, 08:46 AM

Quote:

Originally Posted by MrMaxwell

"get a job and don't write shit off anymore loser." is what you said
So I told you to be quiet

He was impersonating what the IRS would say. You are just so used to people calling you a loser, that you automatically thought HE was calling you a loser.

Something you may want to take under consideration.

CaptainHowdy · 11-22-2013, 09:41 AM

Quote:

Originally Posted by Coup

an audit.

probably

ottopottomouse · 11-22-2013, 10:48 AM

If you're going to load uo your honda with newspapers don't expect it to last more than the first month. Paper in bulk is very heavy.

MrMaxwell · 11-22-2013, 09:07 PM

Excuse me for not reading GFY closely enough .. haha
The fool was still being rude

MrMaxwell · 11-22-2013, 10:10 PM

Quote:

Originally Posted by ottopottomouse

If you're going to load uo your honda with newspapers don't expect it to last more than the first month. Paper in bulk is very heavy.

Ah, yes, but I'll take the seats out of there

the Shemp · 11-22-2013, 11:16 PM

Quote:

Originally Posted by Itchy

Yea I learned the hard way Don't use a company car for personal use

4000 klm's a month back and forth to work sure fucked me at tax time ...

that commute is hell ...

idolbucks · 11-23-2013, 09:56 PM

Quote:

Originally Posted by Coup

an audit.

probably

Brilliant!

11-20-2013, 06:07 PM	#1
MrMaxwell Too lazy to set a custom title Industry Role: Join Date: Jul 2005 Posts: 10,057	What happens when an employee deducts as much as he earns? How does that work? I was going to carry newspaper bundles (not deliver them to residences, but to the distribution centers) and I'm curious to know if the .48/mi deduction would apply for that. I'd be driving 204 miles per day. They would only be paying me $700/wk though. So if I'm paid $36k/yr and have nearly $36k in deductions, what happens then?

11-20-2013, 06:09 PM	#2
candyflip Carpe Visio Industry Role: Join Date: Jul 2002 Location: New York Posts: 43,057	Good lord you are retarded. __________________ Spend you some brain. Email Me

11-20-2013, 06:28 PM	#6
Penny24Seven So Fucking What Industry Role: Join Date: Jun 2007 Location: USA Posts: 6,287	come on man, Google will tell you this faster then on here. I remember having to claim 150K and wrote off about the same amount. You still have to pay SS no matter what. Just google it because I pay someone to do all this crap for me __________________ Our site is coming soon. It will be one of the best ever! I know so. Brian and Penny

11-20-2013, 11:14 PM	#10
ErectMedia Confirmed Chicago Pimp Industry Role: Join Date: Aug 2004 Location: Chicago Posts: 7,100	Generally you can write off losses for a few years as they can accept a start up losing in the beginning, after a few years they say you have a hobby not a job, get a job and don't write shit off anymore loser. __________________ Domain Name Registration Web3 Domains

11-21-2013, 12:21 PM	#17
media Confirmed Moneymaker Industry Role: Join Date: Apr 2002 Location: Eugene, OR It's Like Jail, Only with Trees! Posts: 9,851	Honestly you'll probably get audited because of the ratio of deductions to income.. But when I was driving a lot for work trips between three different state offices, I was doing about 1600 miles a month.. all the time every month.. back then the deduction was $0.35 per mile.. so I was racking up $560 per month in deductions easy, plus lodging and meal expense deductions.. I'd still have to pay out my ass with quarterly estimated payments and then with what I'd owe at the end of the year.. but the deductions basically helped offset the cost of the car I was purchasing.. I also got to write off the interest on the car.. My accountant would not allow anything that was not above board.. so I had trip sheets for every trip, detailing milage, I'd also keep gas purchase reciepts to document the milage/fuel usage.. You can only do standardized mileage deduction OR the cost of repairs and gas to the vehicle.. not both.. usually the standardized mileage deduction is the best option.. __________________ I'm here for the violence!

11-20-2013, 06:14 PM	#4
SilentKnight Megan Fox's fluffer Industry Role: Join Date: Oct 2005 Location: shooting pool in Elysium Posts: 24,818	Did they deny your Mensa application again?

11-20-2013, 06:32 PM	#8
MrMaxwell Too lazy to set a custom title Industry Role: Join Date: Jul 2005 Posts: 10,057	Google cannot hold a candle to the brilliance of gfy Never

11-21-2013, 01:16 AM	#14
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	After a few years of that it becomes a hobby and no longer deducible. But that is easily done with a new business and not uncommon.

11-21-2013, 12:09 PM	#15
Fat Panda Porn is Dead. Move along. Industry Role: Join Date: Aug 2006 Posts: 13,295	just wow.

11-21-2013, 12:17 PM	#16
xNetworx So Fucking What Industry Role: Join Date: Jan 2004 Location: Whore Island Posts: 14,445

11-21-2013, 02:48 PM	#20
fitzmulti I Like Depth Of Field! Industry Role: Join Date: Jan 2003 Location: Las Vegas, NV, USA: 36.12318 N, 115.090219 W Posts: 14,861	"Dear I.R.S., Sorry I fucked my taxes up, but I was asking for advice on GoFuckYourself.com and I guess I got such a variety of advice, I messed my taxes up. Sorry I just didn't go to H&R Block..." __________________ www.SexyGirlsCash.com CONTACT // FITZMULTI AT GMAIL.COM // {Please include a message so I know you are from GFY! I get too many spam "add requests"!}

11-22-2013, 08:25 AM	#25
ilnjscb Confirmed User Industry Role: Join Date: Jun 2009 Posts: 8,801	The likelihood of you getting audited if you keep good records and are meticulous is very low at that gross income. There is nothing wrong with taking a loss, however, you cannot deduct insurance premiums if you do.

11-22-2013, 08:40 AM	#26
L-Pink working on my tan Industry Role: Join Date: Mar 2005 Location: Florida/Kentucky Posts: 39,151	When your simple mileage deductions are close to your total earnings you have zero chance of making money. This is even more true if you are hauling heavy loads.

11-22-2013, 10:48 AM	#29
ottopottomouse She is ugly, bad luck. Industry Role: Join Date: Jan 2010 Posts: 13,177	If you're going to load uo your honda with newspapers don't expect it to last more than the first month. Paper in bulk is very heavy. __________________ ↑ see post ↑ 13101

11-22-2013, 09:07 PM	#30
MrMaxwell Too lazy to set a custom title Industry Role: Join Date: Jul 2005 Posts: 10,057	Excuse me for not reading GFY closely enough .. haha The fool was still being rude