Tax deductions....

And this is why turbo tax didn't work for you i dont use turbo tax but do use another tax program and they help if you know what you are doing. J.K. Lasser books are a life saver buy one and you will be able to get through any tax problem there are a lot of books on loop holes

 

Look, I'm not trying to sell copies of Turbo Tax but if you want to mess around wasting your home time jawboning with a CPA and probably spending more than it would cost with software, by all means do.

Company drivers can file their taxes from their truck on their break and spend more time enjoying their family at home. You can deduct anything from TT and similar products, you just have to 1)know it's legal to deduct and 2)keep your receipts.

If you run your own business (owner op/lease op) or trade stocks all the time or have a bunch of real estate to manage, then you might want to hire a pro. Otherwise, they're not going to get you more bang for your buck legally for ordinary company slave truckers. If you think having a tax pro do your taxes for you releases you from any liability in an audit, you better think again. YOU are responsible for your return as long as you are of sound mind. YOU sign them after all.

 

Having an enrolled agent won't protect you from liability but it will help you avoid liability . EA's are tested and certified by the IRS . They can represent you in tax court .
As for tax preparers that get you a higher return than Turbo Tax , Jackson Hewitt got into a lot of trouble a couple of years ago for those high returns .Note the drop in their stock price from 2007 -2010
http://www.reuters.com/article/idUSN0326749320070403
http://www.taxgirl.com/jackson-hewitt-stock-continues-to-take-hit-on-loan-news/
http://www.consumeraffairs.com/finance/jackson_hewitt.html

 

Most of the big name tax software companies also provide a service to represent you in the case of an audit, for a fee of course. The IRS is the one agency of govt you really don't want to play around with. It's good to legally squeeze every penny you can and there are a lot of people that take pride in LEGALLY getting around every law they can.

The IRS CAN AND WILL take everything you've got by the barrell of a gun. They (in theory) are the most powerful agency when it comes to screwing with your livelyhood. It's not wise to take chances.

There are many schemes and myths out there about what they can and can't do etc. They CAN do anything they want if you try and cheat them. They can seize private property, wages, capital and throw your ### in jail.

 

After spending many hours doing returns and dealing with the IRS since 1976, I can see they have you hyped up.

I have dealt with the IRS on many audits and only lost 2. I know that most people have the major problem when they take questionable deductions.

My return is looked at almost every year. The reason, is simple. As an enrolled agent to practice before the IRS, they know I am aware of the deductions. I also have to have my taxes done by the April 15th. I have put them on extension, but when the renewal of the license comes, I have to remind them I did it.

 

I'm not saying to be terrified of an audit, I was referring to myths that people don't have to file and pay etc. The guy that flew his plane in the building knew their power lol. The average joe probably won't have to worry, but people that try to hide and cheat and get caught, can get in serious trouble and you know I'm right about that. Even the movie stars aren't immune (but democrat govt agents are fine lol).

Bottom line, don't play with the IRS!

 

For those not sure of the per diem for 2009. It's 52.00 a day from Jan. to Sept. 30th. 59.00 a day from Oct. 1 through Dec. 31st. If you're wondering about Turbo-Tax, it worked well for us. It will figure the 80% of those amounts you just have to know the number of days you were out and multiply it by the amounts above and Turbo-Tax will do the rest. It doesn't tell you that it figures the 80% but it does. Just to be sure I figured it both ways. I was right on the money. This was my first time doing Turbo-Tax for the per-diem, I used the deluxe edition which you pay a little extra for and not the the E-Z. Hope this helps.

 

I have some clients who are not democrats, and they have not filed returns in 4 years. I have a couple who are and they have not filed for a couple of years.

I really do not see the need to bring politics into it.

I probably know more that cheat than you do and none of them when caught have went to jail.

 

what is the standard deduction up to. I think it is 80% of $59 thats $47.20 a day is that correct?