@sestrahelena wrote:
The H&R Block tax prepper I spoke to said that home office claims are a big red flag for the IRS. But, she also figured my taxes owing about $2,000 and, when I did it online I owed nothing. So take it for what it's worth.
@jpgilham wrote:
Tax Accountant here for many years. You cannot deduct your coffee and lunches under those circumstances.
@ebjny wrote:
My husband is still working and his health insurance covers both of us and is free as he works for NYC. I do deduct my dental insurance. But my co-pays for medical and dental appointments and prescriptions sure add up. Can I deduct these co-pays on my Schedule C income? I added them up last year but our tax preparer only deducted the dental insurance payments.
@gene wrote:
do you need to provide receipts for such deductions?
@azsrshopper wrote:
Home office deductions are for a portion of your space that is used REGULARLY and EXCLUSIVELY for your business. If you use it for anything else (playing on the computer, your kid using your desk for homework, your husband works out football pools at your desk) or if you only use it for "business" to do your tax return ... you cannot deduct any of it. You can deduct a percent of your computer. But the home office has to be your OFFICE. Where you go to WORK.
@azsrshopper wrote:
Home office deductions are for a portion of your space that is used REGULARLY and EXCLUSIVELY for your business. If you use it for anything else (playing on the computer, your kid using your desk for homework, your husband works out football pools at your desk) or if you only use it for "business" to do your tax return ... you cannot deduct any of it. You can deduct a percent of your computer. But the home office has to be your OFFICE. Where you go to WORK.
@teacherguy wrote:
Hey @sandyf the information you posted about the deductibility of health insurance is correct, but it is incomplete for many MSers.
If MSing/gigwork/sidehustle self employed stuff is the entirety of your earned income, then you can deduct your health insurance premiums (including Medicare premiums) for you and your spouse in the appropriate place on your tax return. BUT...
If MSing/gigwork/sidehustle stuff is just supplementing your income and you have a regular job as your primary income, AND you get your health insurance through your primary employer, then you CANNOT deduct your health insurance premiums.
[/quote]@sandyf wrote:
Ha Ha Zek, I read political point of view all over your post. On most polls about the effect of political decisions these past four weeks the pollsters are still finding half the population , give or take a few percentage points, interpreting political moves one way and the other half having a totally different point of view. I think I can guess your side based on what you said. quote=Zek]
This is not a political post. With the IRS now included in the goverment staff reductions, we will be dead
before they even have an opportunity to think about auditing our returns. I'm not saying cheat on your taxes just that it has been painful to correspond with the IRS since COVID and now its going to be a clusture f ++.