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Posted: 1/4/2006 7:07:22 AM EDT

With the start of the new year, I'd like to start saving reciepts in the hopes of writing off some expenses at the end of the year. Can anyone give me the low-down on some things I might be able to write off?

I am on active duty with the military so I am thinking that barbershop and dry-cleaning reciepts would be useful, plus fuel reciepts for driving back and forth from my unit (I think I can only write off one tank per set of orders I am on though).

What about tactical purchases I make for use at work? Surefire flashlights, rifle sling, etc?

Anything else you can think of, please let me know.

Link Posted: 1/4/2006 7:17:44 AM EDT
tag
Link Posted: 1/4/2006 7:23:44 AM EDT
I have save EVERY reciept for EVERYTHING I bought last years -Cant be taxed on tax already taxed .

Also I have saved every gas reciept for every gallon of gas we (me and my wife ) have spent this past years . Tax is something along the lines of 30 something sents a gallon .

You do the math.
Link Posted: 1/4/2006 7:24:48 AM EDT
tax tag
Link Posted: 1/4/2006 7:27:24 AM EDT

Originally Posted By PinPointOne:
I have save EVERY reciept for EVERYTHING I bought last years -Cant be taxed on tax already taxed .

Also I have saved every gas reciept for every gallon of gas we (me and my wife ) have spent this past years . Tax is something along the lines of 30 something sents a gallon .

You do the math.



So like, if your sales tax is 5%, you're taking a 5% deduction?

And with the gas taxes, like a 15% one?

Link Posted: 1/4/2006 7:29:52 AM EDT

Originally Posted By AvengeR15:
With the start of the new year, I'd like to start saving reciepts in the hopes of writing off some expenses at the end of the year. Can anyone give me the low-down on some things I might be able to write off?

I am on active duty with the military so I am thinking that barbershop and dry-cleaning reciepts would be useful, plus fuel reciepts for driving back and forth from my unit (I think I can only write off one tank per set of orders I am on though).

What about tactical purchases I make for use at work? Surefire flashlights, rifle sling, etc?

Anything else you can think of, please let me know.




hmmmm...I hate to break to it you but if you're looking at barber shop and dry cleanings as tax deductions. I can guarantee you that your standard deductions are far larger that the itemized deductions you may have.
Link Posted: 1/4/2006 7:30:11 AM EDT
My sales tax is 9.25 % and no its not a straight percentage deduction -if that is what you are asking .
Link Posted: 1/4/2006 7:31:45 AM EDT
[Last Edit: 1/4/2006 7:37:31 AM EDT by metroplex]
Look at Schedule A, #5.

I bet your Income Taxes are much higher than general sales tax. In addition, your Standard deduction may also be higher.
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