Tax Return Deductions

[Reephdweller]

Do you usually itemize your taxes and make personal deductions? It seems like most people I work with get much more back every year than me and they never have problems, they deduct things like uniform expenses, education expenses, etc and they never get flagged or anything. Do you do the same? Inever know what to do with these things, right now I'm getting over $2000 back, but I know people who get on average $4000 back who make around what I do and are in the same situation as me. I've always wondered how they do it. If there's a secret or standard deduction that most people make in certain categories. Just curious.

[smiler grogan]

Hey reeph,

First off my wife and i both itemize but the most important
thing is to get an accountant.
You must save receipts throughout the year and then go through them with your accountat at tax time.

You can get a larger return legally by itemizing,
I would ask around if anyone can recommend one I woulod not go to H&R Block or any of those places thats my opinion.

My accountant lives on Long Island hes excellent If you want pm me and I will give you his info.

[JimBeam]

<p>My fiancee's a teacher and she got back 4K.</p><p>She has to have gotten back almost 50% of what she was taxed. How's that possible ?</p><p>On a side note I cashed in some stock this year and want to know how I should claim it when using the EZ form ( I dont claim anything )</p><p>It's not pure stock. Its sharepower. So I got the shares at a certain value, say 38 3/4, and sold them at 60. So all I get is the difference between the 38 3/4 and the 60 for each share.</p><p>So I made like 20 a share for 270 shares.</p><p>They told me I earned like 5300 but I received a check for 3300 after taxes and broker fee.</p><p>Now it looks like they've already included the total in my wages as that amount is more than I earn.</p><p>Since the already took almost 50% of it before they paid me do you think I'll get more back by either leaving it as part of my earnings and hope they over-taxed me in total or somehow seperating it as you would a normal stock ?</p><p>I dont wanna pay an account 200 bucks to get back 1000.</p><p>Any thoughts ?</p>

[reeshy]

Don't ever use the EZ form.....you won;t see shit back.....find a good accounant....not H&amp;R block type people...a real accountant....most of us on the board are upper middle class and need to protect ourselves!!!

[smiler grogan]

reeeshy said it perfectly

also my acct. would blow his top if he saw people talking about the refunds they recieve its aprivate matter that should be kept to oneself

[hafast]

<p>I know one reason, from talking to others, is dependents.&nbsp; A lot of people claim fewer than they have, so more money taken is out over the year.&nbsp; Myself, I only have one kid, claim 3 dependents, and still get quite a bit back.&nbsp; I won't count his year, between combat zone tax exemtions, and having that quailify me for EIC, I'm getting back more than I paid out.&nbsp; Doesn't seem right, but that doesn't mean I'm turning down the money.</p>

[reeshy]

Hafast.....if you havecombat zone deductions......I hope you can get all you can.....When I was in the service.....we didn't have those deductions....but bless you!!!

<span class=post_edited>This message was edited by reeshy on 3-3-07 @ 4:22 PM</span>

[Reephdweller]

<strong>smiler grogan</strong> wrote:<br />reeeshy said it perfectly also my acct. would blow his top if he saw people talking about the refunds they recieve its aprivate matter that should be kept to oneself<p>I agree, and I don't generally tell anyone about my own business, but then when these people talk and I see articles about people writing off crazy things and nothing happens to them it does make you wonder about things.</p><p>By no means am I suggesting illegal things, but rather things that people generally write off that I never give thought to getting money back on. I hear about people who take clients to dinner write them off, or EZ Pass, computers that they donate to charities, etc,&nbsp; </p>

[cougarjake13]

<p>i know a friend that deducts all his gas and tolls as part of his job</p><p>is there some way you have to prove that using your car is part of your job and not just driving from home to an office and back ???</p>