Voluntary Tax

Posts Tagged ‘tax deductions’

self employed tax calculator

And my second job I am self employed. I usually come pretty close to 40 or more hours a week on my second job. What I am not sure about is I want to hold back enough Federal & State taxes so that I don’t end up paying at the end of the year, but I don’t want a large refund either. I am one who likes to have their money weekly. None of that refund stuff for me. I want my money now. My employer deducts Fed, state, local, medicare & social security so will I have to do that with my SE taxes as well or will I be pretty much covered? And I find many calculators but none where I can use both employer taxes and SE taxes? Any suggestions? Anyone know of any loopholes I can look into. I have 3 children and I take care of a disabled aunt as well.
Okay, to clarify this alittle more. I am both self employed and I work for a large firm. I know that when you work for someone else, your employer matches a portion of your tax deductions. When you are self employed you have to pay those yourself. I would like to be able to fix it so that my employer is paying my taxes and on my self employed job, I don’t have to pay as much taxes without oweing a lot at the end of the year. Is that alittle clearer?

volunteer tax deductions

This year I plan to turn my volunteer-only piano playing into a part-time hobby business, hopefully to include playing at weddings, private parties, perhaps at a restaurant and/or teaching a little.

Are all the following expenses able to be deducted from gross revenues for calculating my taxable net revenue?

1. New equipment (will probably need to upgrade my electronic keyboard).

2. Existing musical equipment (such as grand piano) that I previously used for hobby-only, but now would use as part of business — for teaching, practicing for gigs, etc.

3. Continuing education to increase my skill, my ability to get more business and charge more. For example, courses leading to a masters degree?

Finally, how long does the IRS allow this type of hobby business to continue to operate at a loss before they consider it really not a business but just a hobby? For example, I can imagine that start up expenses would easily be more than a first year of revenue, and possibly could eat up pretty much all of the second year’s revenue also.

volunteer tax deductions

I am a volunteer firefighter/EMT that has been searching for a paid EMS position. According to the IRS’s website, mileage is a deductible if searching for work in your current occupation. Is volunteering full-time (40+ hours/week)considered an occupation? I would think so. Also, the car that I drove to and from the series of qualification tests is in my fiance’s name (my car broke down earlier in the year). So can I claim this mileage on my Federal Return or does she?

volunteer tax deductions

Today I got my first pay check from the church I work for. They took out no taxes what-so-ever.
At one place on the check stub I am listed as a "volunteer custotian" in another place I’m listed as "vendor".
Should I be leary of this pay arrangement?

volunteer tax deductions

volunteer tax deductions

I don’t want to sound cold or like i’m doing it for the wrong reasons, but is there any kind of tax deduction for volunteering to be a big bro/big sis? It doesn’t make any sense that they’d give tax breaks for people giving money to recruit volunteers but not give breaks to those who do volunteer
if there are no breaks can someone put what they normally make per hour and consider it a donation? Giving money would be easier for me, and apparently more beneficial, but I think it’d do more good to give time

volunteer tax deductions

volunteer tax deductions

I want to go on a volunteer program that costs about 3000 dollars. The brochure says it’s completely tax deductable, but my parents say that for them, they’re in a "higher tax bracket" and it probably wouldnt be deductable. What the "h" does that mean and is it true? Can something be deductable for one person and not for another or is this just their way of saying they dont want me going?
um, someone asked for more info, all I know is that the volunteer program is well known (Cross Cultural Solutions) and that my parents tell me to check the highest income box on all my college applications.

volunteer tax deductions

If so, How much should I claim?

volunteer tax deductions

I have doing volunteer work for the past couple of years and recently a person I have met told me that I volunteering is tax deductible. I am 18 yrs old, When I was 17 yrs old and volunteering would my parents have gotten the tax deduction or what? Also, my main question is: Is volunteering tax deductible and how much would be deducted from taxes?