fun w/ taxes....

some interesting stuff im finindg while trying to milk the irs for money back…

i worked 305 hours of overtime… roughly 6 hours per week.

i spent $1825 on tools that i have reciepts for. im sure there is another 600 that i paid w/o reciept of tools that are probably worth 1200+. should/can i claim used tools?

you might get audited for anything over 500.00 from what i understand.

ok, what can they say? i show them a tool, and i have no reciept? can u even claim used 2nd hand tools???

Without something that says whom you bought it from and when, I wouldn’t try it. I know I always claim slightly under $500 for everythnig, clothes, travel, donations, ect.

i would think so as long as you have proof of purchase.

Are you filing them under a Schedule C? If so you will most likely not get audited under 15k of claims.

well, i filed tools i had reciepts for under federal-- but it didnt matter anyway b/c the standard deduction was more at 3300… however, all the tools i bought help out in state taxes, where it gets wrote off.

so uncle sam owes me 1082 and the govener owes me 57. hello car parts :slight_smile:

since technically you are somewhat of an entrepreneur you could file tool purchases under Schedule C. Then you get your standard deduction plus Schedule C deductions. All equipment i purchase for pittspeed is filed under schedule C.