what can loan officers who are paid based on w-2's write off tax wise?
2007-03-13 19:55:39 · 5 answers · asked by covent5898 1 in Business & Finance ➔ Taxes ➔ Australia
This question is in AUST & NZ taxes. Excuse my ignorance but what is a W2 as it is obviously not anything to do with income tax (well at least in Aust). The closest thing to a W2 that I can think of is one of the labels in the BAS form relating to tax deducted from employees salary and wages.
2007-03-14 22:22:21 · answer #1 · answered by magpiez 5 · 1⤊ 1⤋
You could claim single and not married, then the gov will take the most tax out of your paycheck.
However, as this time of year comes around, what you did and what you told the gov are two different things. Your accountant or your self will fill in those boxes, but it makes a red flag if you got married and claim single, or if you have children and claim more that who is on your W-4, etc.
I like getting back a lot of money at this time, call me stupid for letting the gov have their interest free loan, but I like the cash this time of year........
By the Way, its write off, not ride off......sounds like you are humping something.
2007-03-14 03:07:03 · answer #2 · answered by kaliroadrager 5 · 0⤊ 2⤋
Don't listen to the heckling, it's an honest mistake. However, now you can also "ride off" into the sunset with a smile on your face... I found a site this year that paid me for all of my filing fees with H&R Block (saved about $80). I went through their steps (took me about 30 minutes or so) and was told that had I owed the IRS, instead of getting a return, they would have paid for up to $500 of my taxes for me. Not only did I get to file completely for free this year, but I got all of H&R Block's protection features along with it! Needless to say, I'm going to be praying that these incentives are around next year.
Jason
2007-03-14 22:02:51 · answer #3 · answered by Jason C 2 · 0⤊ 3⤋
Anything that is business related that has not been reimbursed to you.
Use Form 2106 "Employee Business Expenses" as an itemized deduction.
By the way, dont forget your horse when you "ride off".
2007-03-14 13:14:42 · answer #4 · answered by bold4bs 4 · 0⤊ 1⤋
It's called a write-off, not a ride off.
You can usually deduct anything that your employer does not reimburse you for, and that is required for your job.
2007-03-14 02:57:54 · answer #5 · answered by lyllyan 6 · 0⤊ 2⤋