Out of pocket vs tution reimbursement vs taxes

You were paid back by company. Taxes are not allowing double windfall so to speak.

I just let the costs fly. Does not do much with taxes of the time in those days. Long ago. My weekly withholding was designed to disregard whatever positive taxes each year imposed by IRS, State etc and still have potentially a 5 figure savings at Zero interest coming back to me.

People jeered at me for zero.

I hear crickets now in today's zero interest banking and so on.

 

I don't think can write training off as Tax deduction. They changed the tax laws for 2018. we get the NEW standard deduction that about it. Their is no unreimbursed businessexpense on the tax form anymore. They dis not change the law they just changed the tax forms. So O/O can still write stuff off. You don't even get Per Diem anymore. If your a company driver the company has do it as reimbursement thing so you get the tax advantage.

 

2018 is actually a form of tax increase on the People. We are paid better each week a little bit. But come tax time... you get what you get and notice what you do not.

In 2001 our Per Diem was 13700 for 306 service days per deduction rules. In addition to withholding from both of us. Taxes against 67 became a windfall of sorts.

This year we are not taxable. However we pay sales, fuels, etc.

 

Why would you be able to write off her education expenses?

Was it related to her job/vocation/profession?

 

For 5 years we learned to stay at 18000 here in arkansas after deductions. It was a real bad lean 5 years. 20 dollars hurt.

At 17500 net after deductions against Arkansas taxes we got 100 dollars back.

But if we worked up and beyond say 19000 net income that year its a 100 dollar bill to Arkansas. Pray tell where that would come from.

So we would work and carefully added up our income and simply stop at 17500 then wait for tax person in end of Jan.

We managed to develop and continue on after those 5 years. Now we don't mind what the state wants. Uncle sam can fend for hisself well enough.

For those wondering what happened those 5 years to bother over 100 dollars... cancer is what. We committed everything that was loose into the fight.

Her care came out to a cool 1.3 million all in.

We got 15 years out of that. You can have 5 lifetimes and never repay that.

 

In the old days you could deduct training cost IN YOUR CURRENT OCCUPATION.

Tuition Reimbursement is NOT income. It is Reimbursement. Not taxable, no imact on your taxes.

 

In 2016 everybody's standard deduction was doubled which practically did away with many commom deductions unless they exceeded the higher SD