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re: Few questions regarding mild investing and tax write offs
Posted on 2/20/15 at 10:35 am to LSUFanHouston
Posted on 2/20/15 at 10:35 am to LSUFanHouston
quote:
Depends on how the allowance is structured. If the allowance is taxed, then, you can deduct mileage. If the allowance is not taxed, then, you can only deduct expenses over the allowance. If you get a choice, you want the allowance not taxed, as any deductions would be subject to 1) itemizing and 2) 2 percent of AGI.
What is AGI?
1
Posted on 2/20/15 at 11:36 am to JOHNN
quote:
What is AGI?
Adjusted Gross Income - essentially your income less certain deductions, but not less exemptions and itemized deductions.
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