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#4
04-14-2008, 03:10 PM
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 Re: Where to deduct: Schedule C or Form 2106 <patsheets[at]comcast.net> wrote: - quote - > Can items on Schedule C also be listed on 2106 by real estate agent
I must be missing something, because it sounds like you want to deduct the> (independent contractor) and submitted? same expenses twice: once on Schedule C and once on Schedule A via the 2106. No, you can't. -- Phil Marti Clarksburg, MD -- << ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#3
04-14-2008, 02:44 PM
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| Re: Where to deduct: Schedule C or Form 2106 On Apr 5, 5:24*pm, "Adam H. Kerman" <a...[at]chinet.com> wrote: - quote - > Bob <bobisman...[at]gmail.com> wrote:
Can items on Schedule C also be listed on 2106 by real estate agent> > I am an employee of a public agency and also do a little consulting on > > the side. Some of my expenses, e.g., subscriptions to professional > > journals, dues to professional organizations, I could claim as either > > Schedule C business expenses or employment-related expenses on Form > > 2106. Is there any advantage of one over the other? > Claiming more business expenses on a Schedule C would reduce your > self-employment tax. Unreimbursed employee business expenses and > miscellaneous deductions are itemized deductions only to the extent they > exceed 2% of your adjusted gross income. (independent contractor) and submitted? -- << ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#2
04-06-2008, 12:25 AM
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| Re: Where to deduct: Schedule C or Form 2106 "Bob" <bobismandds[at]gmail.com> wrote in message news:c3e3d39f-979b-4b72-829f-e3128a8dbaf7[at]i36g2000prf.googlegroups.com... - quote - > I am an employee of a public agency and also do a little consulting on
You get a bigger bang for your buck by deducting it on your C because it> the side. Some of my expenses, e.g., subscriptions to professional > journals, dues to professional organizations, I could claim as either > Schedule C business expenses or employment-related expenses on Form > 2106. Is there any advantage of one over the other? lowers your AGI (Posible greater Medical and Miscellaneous Deductions due to their floor) and self employment taxes - quote - > --
- please trim the post to which you are responding> << ------------------------------------------------------- > > << 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 (2007) - All rights reserved. > > << ------------------------------------------------------- > ========================================= MODERATOR'S COMMENT: -- << ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#1
04-06-2008, 12:24 AM
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| Re: Where to deduct: Schedule C or Form 2106 Bob <bobismandds[at]gmail.com> wrote: - quote - > I am an employee of a public agency and also do a little consulting on
Claiming more business expenses on a Schedule C would reduce your> the side. Some of my expenses, e.g., subscriptions to professional > journals, dues to professional organizations, I could claim as either > Schedule C business expenses or employment-related expenses on Form > 2106. Is there any advantage of one over the other? self-employment tax. Unreimbursed employee business expenses and miscellaneous deductions are itemized deductions only to the extent they exceed 2% of your adjusted gross income. -- << ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- > |
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04-05-2008, 11:28 PM
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| Re: Where to deduct: Schedule C or Form 2106 Bob wrote: - quote - > I am an employee of a public agency and also do a little consulting on
rate the deduction based on relative incomes from each activity.> the side. Some of my expenses, e.g., subscriptions to professional > journals, dues to professional organizations, I could claim as either > Schedule C business expenses or employment-related expenses on Form > 2106. Is there any advantage of one over the other? Not really a question of advantage. The correct treatment is to pro ChEAr$, Harlan Lunsford, EA n LA -- << ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
04-05-2008, 08:45 PM
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| Where to deduct: Schedule C or Form 2106 I am an employee of a public agency and also do a little consulting on the side. Some of my expenses, e.g., subscriptions to professional journals, dues to professional organizations, I could claim as either Schedule C business expenses or employment-related expenses on Form 2106. Is there any advantage of one over the other? -- << ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- > |
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| 2106, deduct, form, schedule |
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