starting new job as a salesman what receipts should i keep for taxes and what will i be able to write off?

Question

I am starting a new job as a territory sales manager soon and i have to get a new cell phone. should i save the reciept for tax time? also, i get a stipend of $300 per month that covers gas, any parking fees and anything else i see fit. but if i should go over that amount say in gas a month and have to pay with my own money, should i save those receipts too, so that i can write them off on my taxes? any tips. or hints appreciated.

Answer 1

Go here!

http://handrblock.com/learning/advice/occupational/index.html

Answer 2

I live in Canada, but H&R Block will know what you should keep and not keep. Give them a call they should have and 800 number or call the one you had do your taxes. Then take 12 envelopes and mark each one with the 12 months of the year. Then for Jan. put the receipts from January then Feb. and so on. Then get your self a work sheet and mark them down at the end of the month. Just make sure you keep everything untill your tax company tells you that you do not need too. Good Luck.

Answer 3

I would save all your work related expenses. If your not sure save it anyway and let the CPA tell you what you can and can not itemize. Also I would keep a mileage log because the IRS actaully pays more for miles than for the gas stipened. I suppose if you use more than write of the miles you will come out much better. It is like 42 cents per mile. I know because I write off about 30K mi per year for work. Hope this helps.

Answer 4

hi Care undergo It seems such as you're being taxed on a BR tax code. The BR tax code ability which you pay tax at 20% on each little thing you earn, so the quicker you are able to substitute it the better! additionally, once you alter it you will get a tax refund via your payslip! As you probably did not have a prior activity you does not have had a kind P45 handy in to Iceland once you began - yet did you fill in a kind P46 once you began? the kind P46 is the kind you tell your new corporation what kind of tax code to apply and it has a pair of questions approximately what you have been doing formerly you began this activity. in case you probably did not fill in a kind P46 (or you have not surpassed it in to them yet) then determine you ask your supervisor to get you one and fill it in and get it back to them. you will ought to understand your national coverage kind to fill interior the kind. in case you do have a pair of jobs or another type of earnings then it would desire to be that the BR tax code is right. yet while not then its incorrect. as quickly as your new corporation has the kind P46 they'll placed you on an emergency tax code till the tax place of work tells them what tax code to apply. however the emergency tax code is incredibly lots comparable to a classic tax code and ability that the 1st chew of funds you get each and each week is tax unfastened. in case you seem at your payslip it ought to have an area to assert what tax code they are utilising to artwork it out. If it says BR then hurry up which contain your kind P46! If it says some thing like 603L or 647L then it fairly is a classic tax code. Jonathan

Answer 5

keep them all, untill you talk to who does your taxes. i was told sales tax on everything you buy is deductible, mabe some one will know more about it, but keep them all , just incase. better to have them and not need them, than need them and not have them! Never know when new tax law will cut you a break!