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re: 1099 Work Questions
Posted on 6/19/17 at 9:59 am to ThatMakesSense
Posted on 6/19/17 at 9:59 am to ThatMakesSense
Put 40% of your checks in a savings account and don't touch it
Keep a detailed mileage log
Every time you go out to eat or do something fun, save the receipt for Meals/Entertainment
Take the sqft of the biggest room in your house and use that square footage as your "home office"
Write off your internet and phone
Basically write off everything you do
I did the above and saved 40%, and I ended up oversaving by a good bit
Keep a detailed mileage log
Every time you go out to eat or do something fun, save the receipt for Meals/Entertainment
Take the sqft of the biggest room in your house and use that square footage as your "home office"
Write off your internet and phone
Basically write off everything you do
I did the above and saved 40%, and I ended up oversaving by a good bit 
1
Posted on 6/19/17 at 10:02 am to Carson123987
quote:
Put 40% of your checks in a savings account and don't touch it
Heard this from others as well. Basically is what I will pay when I report to IRS?
Concerning the vehicle, would I be better off purchasing, maybe possibly, leasing a newer vehicle in order to write-off depreciation value??..current vehicle is paid for so I'm not sure the depreciation would be relevant or worthwhile.
This post was edited on 6/19/17 at 10:02 am
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