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Old 07-28-2007, 04:24 AM
rlsusenet@NOSPAMPUHLEEZschnapp.org
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Posts: n/a
Default Re: Tax question about W2 contractors

Mike Wellman wrote:
- quote -

> John Bliss <jbliss1...[at]gmail.com> wrote:

> > I am a software contractor. I work for many clients during
> > the day and can pass the IRS test of "self employed" (I
> > control my work, my hours, even bring my own equipment
> > etc.). However, possibly due to a recent Microsoft lawsuit,
> > most clients I work for are refusing to hire 1099
> > consultants and instead offer W2 through another
> > "pass-through" temp agency.
> > > Needless to say, this is not good news for people like me,

> > despite the obvious advantages of W2.
> > > The question I have is: What are the possible legitimate

> > employee unreimbursed expenses that a person in my shoes
> > still claim, but which people may not realize.


> They are the same expenses you have been deducting on your
> Schedule C - they just move to the Schedule A.


....but they are subject to the 2% AGI floor.
Sucks, doesn't it?

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >
  #2  
Old 07-28-2007, 04:24 AM
Benjamin Yazersky CPA
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Default Re: Tax question about W2 contractors

"Mike Wellman" <irsfixer[at]aol.com> wrote:
- quote -

> John Bliss <jbliss1...[at]gmail.com> wrote:

> > I am a software contractor. I work for many clients during
> > the day and can pass the IRS test of "self employed" (I
> > control my work, my hours, even bring my own equipment
> > etc.). However, possibly due to a recent Microsoft lawsuit,
> > most clients I work for are refusing to hire 1099
> > consultants and instead offer W2 through another
> > "pass-through" temp agency.
> > > Needless to say, this is not good news for people like me,

> > despite the obvious advantages of W2.
> > > The question I have is: What are the possible legitimate

> > employee unreimbursed expenses that a person in my shoes
> > still claim, but which people may not realize.


> They are the same expenses you have been deducting on your
> Schedule C - they just move to the Schedule A.


but you are less likely to derive the same benefit of those
expenses due to the 2 % floor of AGI, which frequently
yields a ZERO deduction

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >
  #1  
Old 07-26-2007, 03:46 AM
KentB
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Posts: n/a
Default Re: Tax question about W2 contractors

"John Bliss" <jbliss1234[at]gmail.com> wrote:

- quote -

> I am a software contractor. I work for many clients during
> the day and can pass the IRS test of "self employed" (I
> control my work, my hours, even bring my own equipment
> etc.). However, possibly due to a recent Microsoft lawsuit,
> most clients I work for are refusing to hire 1099
> consultants and instead offer W2 through another
> "pass-through" temp agency.
> Needless to say, this is not good news for people like me,
> despite the obvious advantages of W2.
> The question I have is: What are the possible legitimate
> employee unreimbursed expenses that a person in my shoes
> still claim, but which people may not realize.


If the agency that you work for allows you to work for more
than one client during a single work day, you are still
entitled to a mileage deduction from the first job location
to the second location and so on until the final location
each day. See if the employer is willing to pay this
mileage on an expense account, and then you will get
non-taxable extra income.

Kent Burghard, Cordova TN

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >
 
Old 07-26-2007, 03:46 AM
Mike Wellman
Guest
 
Posts: n/a
Default Re: Tax question about W2 contractors

John Bliss <jbliss1...[at]gmail.com> wrote:

- quote -

> I am a software contractor. I work for many clients during
> the day and can pass the IRS test of "self employed" (I
> control my work, my hours, even bring my own equipment
> etc.). However, possibly due to a recent Microsoft lawsuit,
> most clients I work for are refusing to hire 1099
> consultants and instead offer W2 through another
> "pass-through" temp agency.
> Needless to say, this is not good news for people like me,
> despite the obvious advantages of W2.
> The question I have is: What are the possible legitimate
> employee unreimbursed expenses that a person in my shoes
> still claim, but which people may not realize.


They are the same expenses you have been deducting on your
Schedule C - they just move to the Schedule A.

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 07-25-2007, 10:23 PM
John Bliss
Guest
 
Posts: n/a
Default Tax question about W2 contractors

I am a software contractor. I work for many clients during
the day and can pass the IRS test of "self employed" (I
control my work, my hours, even bring my own equipment
etc.). However, possibly due to a recent Microsoft lawsuit,
most clients I work for are refusing to hire 1099
consultants and instead offer W2 through another
"pass-through" temp agency.

Needless to say, this is not good news for people like me,
despite the obvious advantages of W2.

The question I have is: What are the possible legitimate
employee unreimbursed expenses that a person in my shoes
still claim, but which people may not realize.

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >
 

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