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Thread: Death and Taxes.... Ok Just Taxes... The personal income tax thread

  1. #1

    Death and Taxes.... Ok Just Taxes... The personal income tax thread

    For a little background: I have a full time 40 hour a week job (normal w-2 process). Additionally, due to my experience and experiences I was hired to teach adjunct (1099 revenue). I don't have a normal place of where I teach and at times have to travel up 160 miles one way to the location. When I go to those locations the University pays me mileage, lodging and Meal per diems.

    What I am wondering however are two things:

    Since I was hired to teach due to my experiences can I deduct my commute to my regular job as research for the Classes I teach? I do incorporate things I experience and learn at my regular job into my lessons (I am expected to do this). Additionally, should I be able to deduct any meals where I do research for my teaching job as well?

    My last question is since I am travelling longer distances to teach I want to get a newer more reliable car. Can I depreciate that new car as I am getting it for the purpose of having more reliable transportation to those locations?
    "Be a philosopher. A man can compromise to gain a point. It has become apparent that a man can, within limits, follow his inclinations within the arms of the Church if he does so discreetly." - The Walking Drum

    "And here’s what life comes down to—not how many years you live, but how many of those years are filled with bullshit that doesn’t amount to anything to satisfy the requirements of some dickhead you’ll never get the pleasure of punching in the face." – Adam Carolla

  2. #2
    That time of the year again. Noticed several changes from 2012 to 2013 to can make a sizable dent in the pocketbook, such as.....higher tax rates for higher earners, phase out of personal exemptions, lower limits on deductions, & increased medicare tax due to Obamacare. I'm sure there are many more, but, these are fairly major and can create a substantially higher tax obligation. 27 more days and counting. Ugh.
    “Children and dogs are as necessary to the welfare of the country as Wall Street and the railroads.” -- Harry S. Truman

    "You never soar so high as when you stoop down to help a child or an animal." -- Jewish Proverb

    "Three-time Pro Bowler Eric Weddle the most versatile, and maybe most intelligent, safety in the game." -- SI, 9/7/15, p. 107.

  3. #3
    Are missionary payments to a specific missionary tax deductible like tithing and fast offerings?
    “Children and dogs are as necessary to the welfare of the country as Wall Street and the railroads.” -- Harry S. Truman

    "You never soar so high as when you stoop down to help a child or an animal." -- Jewish Proverb

    "Three-time Pro Bowler Eric Weddle the most versatile, and maybe most intelligent, safety in the game." -- SI, 9/7/15, p. 107.

  4. #4
    Quote Originally Posted by mUUser View Post
    Are missionary payments to a specific missionary tax deductible like tithing and fast offerings?
    As far as I know, they are as long as they are donated through the church. The year end statement you get from the church should separate those contributions that are considered "charitable", and those that aren't.

    If you send a $20 check to a missionary in the mail, it would not be.
    Dyslexics of the world, untie!

  5. #5
    Quote Originally Posted by chrisrenrut View Post
    As far as I know, they are as long as they are donated through the church. The year end statement you get from the church should separate those contributions that are considered "charitable", and those that aren't.

    If you send a $20 check to a missionary in the mail, it would not be.
    Correct. I believe that is one of the main reasons the church went to the fixed missionary fee in the late 80's early 90's instead of parents paying the mission cost directly, was to ensure the charitable tax benefit.

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    Ok. We've been sending money to the missionary's bishop in question each month. Since I don't see the donations on my year-end donation statement, I assume I didn't qualify for the deduction and need to change my payment strategy.

    Gracias.
    “Children and dogs are as necessary to the welfare of the country as Wall Street and the railroads.” -- Harry S. Truman

    "You never soar so high as when you stoop down to help a child or an animal." -- Jewish Proverb

    "Three-time Pro Bowler Eric Weddle the most versatile, and maybe most intelligent, safety in the game." -- SI, 9/7/15, p. 107.

  7. #7
    Quote Originally Posted by mUUser View Post
    Ok. We've been sending money to the missionary's bishop in question each month. Since I don't see the donations on my year-end donation statement, I assume I didn't qualify for the deduction and need to change my payment strategy.

    Gracias.
    You may want to ask that bishop (sounds like it is not yours) for a year end tax statement. If he is collecting money from you, it is going into the system and you should get a receipt. If you are writing a check directly to that bishop and he is cashing it or something and then depositing, he shouldn't be doing that for reasons beyond your tax deductions.

  8. #8
    Sam the Sheepdog LA Ute's Avatar
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    Quote Originally Posted by Rocker Ute View Post
    You may want to ask that bishop (sounds like it is not yours) for a year end tax statement. If he is collecting money from you, it is going into the system and you should get a receipt. If you are writing a check directly to that bishop and he is cashing it or something and then depositing, he shouldn't be doing that for reasons beyond your tax deductions.
    Right. muuser, the funds are deposited into the ward's missionary account - and should be dedicated to the particular missionary you're helping. There must be a record of that in the MIS system and that bishop should be able to have his ward clerk send it to you. (Assuming he's been doing this the routine way.)

    "It is only with the heart that one can see rightly; what is essential is invisible to the eye."
    --Antoine de Saint-Exupery

    "Things fall apart; the centre cannot hold."
    --Yeats

    “True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”

    --John W. Davis, founder of Davis Polk & Wardwell

  9. #9
    Quote Originally Posted by Rocker Ute View Post
    You may want to ask that bishop (sounds like it is not yours) for a year end tax statement. If he is collecting money from you, it is going into the system and you should get a receipt. If you are writing a check directly to that bishop and he is cashing it or something and then depositing, he shouldn't be doing that for reasons beyond your tax deductions.
    Yep. You could also ask your ward clerk to check the MLS to see if they had a statement of donations made through other units sent at the end of the year. We got a bunch for our ward, but it is in the messages section which is easily overlooked.
    Dyslexics of the world, untie!

  10. #10
    Also if you have proof of payment (check stubs, etc) then i don't know if you need the actual receipt. i believe the IRS requires the receipt (acknowledgement from charity) if the donation is over $500 in CASH. Check with your accountant but I am pretty confident you can make the charity claim as long as you have proof of the donation.

  11. #11
    The donations statement should be easy to get from that ward as my BIL is in the bishopric. Thanks all.
    “Children and dogs are as necessary to the welfare of the country as Wall Street and the railroads.” -- Harry S. Truman

    "You never soar so high as when you stoop down to help a child or an animal." -- Jewish Proverb

    "Three-time Pro Bowler Eric Weddle the most versatile, and maybe most intelligent, safety in the game." -- SI, 9/7/15, p. 107.

  12. #12
    Can anyone recommend an Enrolled Agent in the SLC area? As an alternative a tax accountant?....but prefer an EA for now.
    “Children and dogs are as necessary to the welfare of the country as Wall Street and the railroads.” -- Harry S. Truman

    "You never soar so high as when you stoop down to help a child or an animal." -- Jewish Proverb

    "Three-time Pro Bowler Eric Weddle the most versatile, and maybe most intelligent, safety in the game." -- SI, 9/7/15, p. 107.

  13. #13
    Sam the Sheepdog LA Ute's Avatar
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    Hey, Joe Biden says paying taxes is patriotic.

    "It is only with the heart that one can see rightly; what is essential is invisible to the eye."
    --Antoine de Saint-Exupery

    "Things fall apart; the centre cannot hold."
    --Yeats

    “True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”

    --John W. Davis, founder of Davis Polk & Wardwell

  14. #14
    Quote Originally Posted by LA Ute View Post
    Hey, Joe Biden says paying taxes is patriotic.
    I know you are having a bit of a laugh, here, but, it is.

  15. #15
    Sam the Sheepdog LA Ute's Avatar
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    Death and Taxes.... Ok Just Taxes... The personal income tax thread

    Quote Originally Posted by LuckyUte View Post
    I know you are having a bit of a laugh, here, but, it is.
    Joe made that statement in the depths of the 2008 recession, so in context it’s not outrageous. He was talking about pulling together as a nation to pull out of that crisis. Fair enough.

    Of course obeying the law is patriotic. But I think for a policy maker to use patriotism to justify economic policy choices — especially tax policy — is laughable. “I don’t mind paying higher taxes so neither should you. Let me wrap myself in the flag while I say that.”
    Last edited by LA Ute; 10-23-2017 at 09:49 AM.

    "It is only with the heart that one can see rightly; what is essential is invisible to the eye."
    --Antoine de Saint-Exupery

    "Things fall apart; the centre cannot hold."
    --Yeats

    “True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”

    --John W. Davis, founder of Davis Polk & Wardwell

  16. #16
    Quote Originally Posted by LA Ute View Post
    Joe made that statement in the depths of the 2008 recession, so in context it’s not outrageous. He was talking about pulling together as a nation to pull out of that crisis. Fair enough.

    Of course obeying the law is patriotic. But I think for a policy maker to use patriotism to justify economic policy choices — especially tax policy — is laughable. “I don’t mind paying higher taxes so neither should you. Let me wrap myself in the flag while I say that.”
    Yes, being superior than others and wrapping yourself in the flag, on any issue, not just taxes, is irritating and obnoxious. But, I believe it is patriotic to pay taxes. This country, in many of its social institutions and gatherings revers firefighters, policemen and soldiers and holds them up as patriotic positions, as a base belief. We simply don't have those things without taxes, period. As to how to best use taxes, and how much there should be, that is a different argument than I am making. Paying your taxes in full and on time is one of the most patriotic things you can do.

  17. #17
    Sam the Sheepdog LA Ute's Avatar
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    Quote Originally Posted by LuckyUte View Post
    Paying your taxes in full and on time is one of the most patriotic things you can do.
    From one life-long patriot to another: I cannot disagree!

    "It is only with the heart that one can see rightly; what is essential is invisible to the eye."
    --Antoine de Saint-Exupery

    "Things fall apart; the centre cannot hold."
    --Yeats

    “True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”

    --John W. Davis, founder of Davis Polk & Wardwell

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