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You do pay the part of SS that an employer pays but then you turn - around and write it off. I am an IC because SM Posted: Jul 25th, 2015 - 3:21 pm In Reply to: Another IC question - re computing real pay
I can write off portion of electricity, water, garbage, internet, mortgage etc as write offs for the cost of doing IC in my home. Also, if you pay your own insurance, that is a write off. Any equipment, PC, laptops, paper, ink, pens, notebooks etc are a write off. Computer maintenance is a write off. Remodel of my office is a write off. Before kids were 18 I could pay each of them up to 2000 a year for helping with office work. Taxman said that included anything, taking out garbage, filing, cleaning office etc and I should never worry IRS would check on that and they never did. He told me gov'ment want us to work and they are not looking over our shoulder. And anyway, you have records, and IF, IF IF, the IRs should come calling, have them call him, the tax guy. BTW, tax guy fees are a write off.
Call a CPA to consult with him. Ask for a receipt and that will be a write off. I am looking to buy a new laptop this year because I am low on write offs and I could use another one,, this will be my 5th computer. Oh yea, one year I ordered Longerburger office baskets and wrote them off, and a few years ago I bough an obscenely expensive big Coach bag. I had terrible buyers remorse but talked to tax guy and he said use it to bring my tax papers to his office and to store other files in it a lot of times and viola, it too was able to be written off.
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- Another IC question - re computing real pay (Views: 757, 2015-07-25, 2:31 pm)
- You do pay the part of SS that an employer pays but then you turn - around and write it off. I am an IC because SM
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