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#1 |
Veteran
Contributor ++
Join Date: Feb 2004
Location: Palo Alto
Motorcycles: 98 VTR1000
Name: Sam
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Income tax thread 3.0
It's that time of year again...
Barfers, your *hypothetical* income tax questions will be answered with general, and purely *hypothetical* guidance based on my understanding of your question and facts (I could be completely wrong on all counts). Consult your professional tax advisor to conclude on the application of the law to your unique fact pattern. Do not post any non public facts herein! IRS circular 230 disclaimer: nothing in this thread constitutes tax advice within the meaning of IRS circular 230. Nothing in this thread is intended to be used nor may be used to avoid any penalty or tax imposed under the internal revenue code. As flattering as it may be, I cannot and will not be engaged by any of you wonderful blokes to provide actual tax advice. Now, boiler plate formalities concluded, post up!
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Quote: Originally Posted by afm199 [Owensdad], you usually pull the trigger on a mouth full of buzz words without thinking. Last edited by Owensdad; 02-23-2014 at 06:08 PM.. |
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#2 |
Veteran
Contributor + 1%
Join Date: Sep 2011
Location: norcal
Motorcycles: gas
Name: penorface
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Nice of you to do this.
![]() I think this might be my last semi-complicated tax year for a bit. ![]()
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FREE HAND JOBS__Teh Poopie Thread__Fetal Liver on Sale! "It's a joke. It's all a fuckin' joke. God help us all." |
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#3 |
Is it summer yet?
Contributor
Join Date: Jun 2004
Location: The Cordelia Junction
Motorcycles: '00.5 RSV Mille, '00 SV650 trackbike
Name: Maynard
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Ok, is taxation theft, or is the government just stealing our money?
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The urge to save humanity is almost always a false front for the urge to rule. H. L. Mencken -- "Political tags -- such as royalist, communist, democrat, populist, fascist, liberal, conservative, and so forth--are never basic criteria. The human race divides politically into those who want people to be controlled and those who have no such desire" -- Robert A. Heinlein. |
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#4 | |
USN
AMA # 3164290
Contributor ++++++2%
Join Date: Dec 2008
Location: Cupertino
Motorcycles: CRF450x, TT600, M900
Name:
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Quote:
as I need someone this year ![]()
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IMPERIUM NEPTUNI REGIS-Member of the Barf Chapter of the Ancient Order of Trusty Shellbacks ![]() Yoshida Kogyo Kabushikigaisha ![]() ![]() |
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#5 | |
Veteran
Contributor ++
Join Date: Feb 2004
Location: Palo Alto
Motorcycles: 98 VTR1000
Name: Sam
|
Quote:
Answer: I'm sure it won't be! ![]()
__________________
Quote: Originally Posted by afm199 [Owensdad], you usually pull the trigger on a mouth full of buzz words without thinking. |
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#6 | |
Veteran
Contributor ++
Join Date: Feb 2004
Location: Palo Alto
Motorcycles: 98 VTR1000
Name: Sam
|
Quote:
For personal tax matters I recommend Mike Tiret, Tiret & Co. 650 225 0400 or Mike Yates, Frank + Rimerman & Co. 408 279 5566 Both are top tier.
__________________
Quote: Originally Posted by afm199 [Owensdad], you usually pull the trigger on a mouth full of buzz words without thinking. |
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#7 |
Veteran
Contributor ++
Join Date: Feb 2004
Location: Palo Alto
Motorcycles: 98 VTR1000
Name: Sam
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My personal judgement of current tax policy notwithstanding, I hate to see anybody overpay.
__________________
Quote: Originally Posted by afm199 [Owensdad], you usually pull the trigger on a mouth full of buzz words without thinking. |
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#8 |
What the shit is this...
Contributographer
Join Date: Apr 2008
Location: The wet spot.
Motorcycles: yes
Name:
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2013 was a complicated year for me, with stock options exercised, three different jobs, an interstate move, a divorce, retirement account shuffling, and several months unemployed. Still gathering paperwork at my new address, but hopefully it all sorts out. If Turbo Tax can't give me reasonable results, I'll be back with some specific questions.
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TPW Washington sucks and it rains all the time. If I didn't hurt your feelings, then I retract my apology. - bruceflinch |
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#9 |
50-50
AMA #: 2818042
Contributor +
Join Date: Jun 2009
Location: South Beach, SF
Motorcycles: '03 CBR954RR-ish
Name: Marc
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Hypothetically, what's the rule of thumb to calculate the out of state purchases/taxes?
Thanks.
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With Gratitude: BRG Racing BTRmoto Catalyst Reaction Dave Moss Fastline GP Frame & Wheel Moto Guild NTP Bikes Shawn Keene |
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#10 |
Super Moderator
BARF Moderator
Founding Member
Top Percent Poster
Contributor / Barf Racer
Barfie Winner 2014 & 2017
Join Date: Jun 2002
Location: Walnut Creek
Motorcycles: Monica Sweetheart!!!!
Name: Berto
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Thread stuck. Let me know when to unstick Sam...
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#11 |
Honorably Discharged
Contributor +
Join Date: May 2007
Location: San Jose
Motorcycles: 2006 Slvr CBR600rr
Name: Brandon
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Is it better to have a sit down with a Tax Rep for simple preparation? I've always enjoyed the ease of TurboTax.
Thanks in advance. |
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#12 |
Veteran
AMA #: 424261
Contributor + + + + + 2%
Join Date: Oct 2013
Location: Rohnert Park
Motorcycles: cr250
xr100
FJR1300
450EXC
Montesa Cota 315r
Aermacchi/HD Sprint 250ss
950 ADV
200xcw
Name: Daniel
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Say hypothetically I was to get a gig as a motorcycle riding instructor and that income was reported on a 1099. Would I be able to report that income on a Schedule C and then deduct a reasonable portion of my gear, mileage, training/education, parts/repairs, and the cost of the motorcycle?
![]() Thanks. Daniel |
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#13 | |
IBA # 56746
AMA #: 2846730
Contributor + + + +
Join Date: Dec 2009
Location: Oz
Motorcycles: 2016 CB500XA
Name: Rod
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Quote:
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#14 |
Super Moderator
BARF Moderator
Founding Member
Top Percent Poster
Contributor / Barf Racer
Barfie Winner 2014 & 2017
Join Date: Jun 2002
Location: Walnut Creek
Motorcycles: Monica Sweetheart!!!!
Name: Berto
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I've got one Sam: What actions/ deduction are most likely to bring an audit?!!!
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#15 |
Veteran
Contributor
Join Date: Sep 2013
Location: Danville
Motorcycles: 08 Ninja 250
Name: Wes
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A buddy of mine tried to convince me why it's better to claim 1 dependent versus 0. I was drunk, and totally forgot what he said, so I don't remember. What's your thoughts on the matter?
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