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  #5  
Old 10-04-2005, 06:07 AM
Stuart A. Bronstein
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Default Re: Mileage deduction exceeds income?

"Missy" <mytax[at]yahoo.com> wrote:

- quote -

> Mine is a nickname, as well.

I have a clients for whom it's not. She's a CPA.

Stu

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >
  #4  
Old 10-02-2005, 11:31 AM
Missy
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Default Re: Mileage deduction exceeds income?

Mine is a nickname, as well.

Missy

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >
  #3  
Old 09-30-2005, 12:36 PM
Harry
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Default Re: Mileage deduction exceeds income?

Missy: Thank you! (BTW, have a neice with the same name --
actually a nickname. Neat)

HT

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >
  #2  
Old 09-30-2005, 12:36 PM
Harry
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Default Re: Mileage deduction exceeds income?

Thank you, Paul!

HT

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >
  #1  
Old 09-21-2005, 06:32 AM
Missy
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Default Re: Mileage deduction exceeds income?

You will not even have any self employment to pay. If your
botton line is -0- or less there is nothing to pay.

Missy Doyle

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >
 
Old 09-21-2005, 06:13 AM
Paul A Thomas
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Default Re: Mileage deduction exceeds income?

"Harry" <harrytruman[at]yahoo.com> wrote

- quote -

> I just started a job as a "courier" using my own car (FYI, a
> Geo Metro) as an 'independent contractor.' I'm not sure what
> I'm making yet on local runs, but last Friday I made two
> runs to LA from San Diego, was paid $264, and the mileage
> was 437 miles [ which makes a mileage deduction of $211.94,
> correct? ]. But what happens if, at the end of the year, the
> standard mileage deduction exCEEDS what I'm being paid?


Then you'll have a loss.

- quote -

> I only have to pay the Self-employment tax?

Not on a loss.

--
Paul A. Thomas, CPA
Athens, Georgia
taxman at negia.net

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >
  #-1  
Old 09-20-2005, 03:29 PM
Harry
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Default Mileage deduction exceeds income?

I just started a job as a "courier" using my own car (FYI, a
Geo Metro) as an 'independent contractor.' I'm not sure what
I'm making yet on local runs, but last Friday I made two
runs to LA from San Diego, was paid $264, and the mileage
was 437 miles [ which makes a mileage deduction of $211.94,
correct? ]. But what happens if, at the end of the year, the
standard mileage deduction exCEEDS what I'm being paid? I
only have to pay the Self-employment tax?

Thank you, people.

Harry Truman

* And, yes, I know its stupid to take a job without knowing
exactly what you are going to make. But times are tough and
I had to make SOMEthing. If you have a job opening for an
exemplary customer service person, I'll seriously consider
it.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >
 

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deduction, exceeds, income, mileage
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