Originally Posted by
cni187
80 this is a question to you and all the other guys/gals on here getting these tax reports. What do these reports add up? What is the end game on your tax return? Is this the travel, meals, blah blah blah Miscellaneous Deductions from PUB 521 of the IRS? If so does this make a difference on your tax return? I'm not looking for tax advice I'm just curious that if you're a line holder does this make a difference on your tax return?
Heyas CNI,
Whether it's worthwhile to do all this is a case of "it depends".
For the last ten years, with the exception of 2 (when I wasn't working), I've been subject to the alternative minimum tax. If you get nailed by the AMT, you lose a good portion of these deductions...per diem, dry cleaning, etc, making it pointless to bother.
I don't have kids, a spouse, a mortgage, failed businesses or a load of debt so I'm a bad, bad person in the eyes of the tax code.
Nu