I work really hard and have two jobs. Last year I have received $1500 back from my taxes. Unfortunately I have nothing to deduct (I think) and this year I am about to get $150. I paid over $12,000 in federal tax, social security and medicare and was looking to get just little bit more that $150 dollars. I do have a car (my montly payments are $500). Can I deduct these? What about gas? I do use my car to get to work. What about clothes for my job? Can I deduct my lunches?
2007-03-26 07:08:53 · 4 answers · asked by Lula 1 in Business & Finance ➔ Taxes ➔ United States
Let's start with your last questions. You cannot deduct your car/gas, unless it's a work car. Commuting to work doesn't count.
You cannot deduct your clothes, unless they are a uniform.
Lunches, no, unless you are paying for clients or something.
So, I'm guessing no.
Common deductions are mortgage (which I assume you don't have), charity, IRA contributions.
It's too late for 2006 charity deductions. You can still put money into an IRA, though, and claim a 2006 deduction.
Investment losses?
Someone in your situation, I'd assume, would take the standard deduction. I cannot imagine that you'll benefit from itemizing, unless you've got a mortgage or have given a sizable amount of charity.
The reason you're not getting much back is because you didn't let the government take more than their share. That's a good thing, since a tax refund means that you gave the government an interest-free loan. Ideally, you'd end up with $0 owed or refunded.
Single people without kids, investments, or other complications can have their withholding be pretty close to right. It sounds like your withholding was very close.
2007-03-26 07:22:27 · answer #1 · answered by Jay 7 · 2⤊ 0⤋
your best bet is to contact a account and let them do your taxes for you for 1 year and watch what they deduct. Also go to H and R block and they have a list of examples on what you can deduct. You can only deduct your gas, car and lunches if you own your own business. You can deduct washing your clothes if they are provided to you as a uniform. Shoes can be deducted if they are required in a certain style....for example, steel toed shoes. If you have a lot of medical bills, then you can deduct a portion of the bill, gas driving, prescriptions, modification to home because of medical if required by the doctor. Donating to charity is also a way to have your taxes reduced. take a look at what bracket you are in and find out what you need to do as far as deductions or working slightly less to stay in a lower bracket to make more money.
2007-03-26 14:15:52 · answer #2 · answered by Dr-Brain 2 · 1⤊ 3⤋
You cannot deduct any auto related expenses assuming you only drive to your office and return home. You are only commuting and not using your auto in the course of business. Clothes, excluding uniforms required by your job, are not deductible. Meals, unless business related, are not deductible. In order to have what are called itemized deductions, the amounts would have to be more than the standard deduction which we all get automatically.
2007-03-26 14:28:03 · answer #3 · answered by EDWARD M 1 · 2⤊ 1⤋
The items you mention are not deductible for the most part. If your clothes are uniforms, like with the company name on them or scrubs for medical jobs, then you could possibly deduct those but you'd have to itemize to do it, and you probably don't have enough deductions to itemize.
2007-03-26 19:47:32 · answer #4 · answered by Judy 7 · 0⤊ 0⤋