How to get the most money back from taxes?

I need the $$, lol

Published on February 27, 2006 By Ziggystyles In Life Journals

So, last year was the first year i did my taxes on my own. I ended up going online and using Turbo Tax and it worked out pretty slick and i got my refund pretty quickly. This year, I am using them again and paying a little more so I can get some more options or something. I think Im just going to see what I can get back, and then go to H&R Block or somewhere else to pay less.

Anywho..I dont know what I can take off of my taxes, with the overall goal of getting a larger refund back.

Right now, I took off the gas I paid for the Penske Truck I drove from Vegas to MN, and Im getting all that back. Im also planning on taking off my medical bills as it looks like I can have those written off or something. Lol...I don't know. If I was teaching, I could get my clothes taken off...I mean...taken off my taxes or whatever its called.

Grr, I dont know what else I can write off. Any ideas?

Comments

shadesofgrey

on Feb 27, 2006

I highly recommend either going to someone or spending some quality time getting up close and personal with the IRS publications.

Right now, I took off the gas I paid for the Penske Truck I drove from Vegas to MN, and Im getting all that back. Im also planning on taking off my medical bills as it looks like I can have those written off or something. Lol...I don't know. If I was teaching, I could get my clothes taken off...I mean...taken off my taxes or whatever its called.

You can take off your moving expenses (line 26 of the 1040--but you have to fill out an additional form). This means in addition to the gas, you could probably deduct the moving truck, and boxes/tape/packing bubbles you had to buy, or anything else directly related to the move. If you claim too much as a moving expense, it tends to trigger an audit--so make sure you have receipts.

Medical bills--you can only deduct medical bills that are more than 7% of your Adjusted Gross Income. Of course you can only do this if you are itemizing. However, if you are self-employed, you may deduct all of your health insurance payments (line 29 of the 1040).

As for clothes if you were teaching--I don't think that is technically allowed. Talk to a tax consultant, but if you are able to wear the clothes outside of work then they are not deductible. I know that I am not allowed to deduct my business suits (and boy do I wish I could cause they set me back a pretty penny).

Other things that you should see if you can deduct for are:

Educator expenses
student loan interest
tuition and fees

Ziggystyles

on Feb 27, 2006

Hmm, thanks for the reply.

As far as medical bills, that 'more than 7%' means just what i paid, not what the insurance company paid, correct? I know I paid a couple of hundred at least in co-pays and the like.

For clothing...I thought I could get it taken off. I guess i havent looked closely into the publications....at all, lol. A guy I work with gets his cell phone taken off because the school he is a custodian for doesnt take calls after 4pm as the calls go to a voice mail system so he can't get any. He also had his clothes taken off becaus he was requred to have certain stuff for his job. He said I could also get them taken off my taxes because I have to follow a dress code and am required to wear certain things at work. Hmm.

I didn't keep a good track of my educator expenses, kept forgetting to keep the reciepts. I dont know if the gov would accept bank account records (ie...I spent x amount at bobs house of school supplies or x amount at so and so clinic....or would they?)

Student loan interest...yep, got that one.

no tuition and fees apply anywhere.

As far as the moving expenses, Marcie paid for the truck and the trailers...etc, and I paid for the gas. Although, now that I think about it...maybe I paid for the small trailer she used to haul my motorcycle...hmmm.

Dumb Taxes!

singrdave

on Feb 27, 2006

Have kids. Lots of kids.

shadesofgrey

on Feb 27, 2006

As far as medical bills, that 'more than 7%' means just what i paid, not what the insurance company paid, correct? I know I paid a couple of hundred at least in co-pays and the like.

Yea, it's just what you paid, not what your insurance company paid. For example, if your Adjusted Gross Income was 15,000, you would not be able to deduct the first $1050 that you paid in medical bills. Anything over that $1050 woudl be fair game though.

This is what the IRS has to say on clothing:

It is not enough that you wear distinctive clothing. The clothing must be specifically required by your employer. Nor is it enough that you do not, in fact, wear your work clothes away from work. The clothing must not be suitable for taking the place of your regular clothing.

Examples of workers who may be able to deduct the cost and upkeep of work clothes are: delivery workers, firefighters, health care workers, law enforcement officers, letter carriers, professional athletes, and transportation workers (air, rail, bus, etc.).

Musicians and entertainers can deduct the cost of theatrical clothing and accessories that are not suitable for everyday wear.

However, work clothing consisting of white cap, white shirt or white jacket, white bib overalls, and standard work shoes, which a painter is required by his union to wear on the job, is not distinctive in character or in the nature of a uniform. Similarly, the costs of buying and maintaining blue work clothes worn by a welder at the request of a foreman are not deductible.

I think that bank receipts that specifically mentioned the store would suffice, but don't quote me on that.

I doubt very much that you will be able to convince them that you are required to wear very distinctive clothing for teaching.

Good luck.

Ziggystyles

on Feb 27, 2006

I doubt very much that you will be able to convince them that you are required to wear very distinctive clothing for teaching.

Lol, darn.

Thanks for the info though.

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