Gary Kim3 said:I’m getting the runaround at the IRS, honestly. They’re telling me my son has to officially close out his own tax filing status first before they'll even consider letting me claim him as a dependent.
I actually thought you were asking about an entrepreneur's debit card. Either the employer handles card updates for their staff, or you just handle it yourself if you're freelancing.
How are you planning to close out? The IRS just rolls everything over into the new year anyway. If there isn't a balance or an overpayment, the card stays blank—but if there is, that’s where all the data shows up.
So, say you're running a small business (on the VAT system), things are tanking, and you need a side hustle just to stay afloat—but you aren't ready to shut down the LLC yet. How does that work with filing taxes and paying those self-employment taxes? Like, do I even still have to pay them?
1. What if I pick up a part-time gig somewhere else?
2. Or what if I land a full-time job at another company?
Thanks in advance.
Your other employer has to report you at least at the minimum rate required for an LLC owner keeping books, but obviously for full-time hours. You'll just need to make sure you opt out of your own self-employment contributions through the business.
Supplemental health insurance premiums through $833 count as standard business expenses, just like anything else you can write off. The rest of those costs don't qualify as deductible expenses.
redmason4 said:Hey everyone, I could really use a little help if anyone has a sec 😵 just to see if my math actually adds up 😬
So, I run my own thing as a sole proprietor here in the States, and I’m about to hit that $250,000 threshold
Here’s the scenario I'm looking at: Let's say my total annual revenue hits $133, which means I've officially blown past the $100 mark.
Based on how I'm seeing it:
- I'll have to register for sales tax and pay monthly or quarterly—is that basically just an advance on my year-end tax bill or what? - Since my work falls under that "artistic services" category, I get a 25% deduction... so if we're talking $400,000, taking off 25% leaves me with $100 - Then, on top of that $250,000 baseline, I've got all my business expenses—let's say $3.25 in deductible input receipts - That leaves $97, and since my total gross was over $360,000, am I stuck with a 36% tax rate?
So, if the annual tax is 36% of $290,000, that would mean $35...?
Am I tracking this correctly, or is there some other crazy tax rule I totally missed...
Thanks 😍
You can choose to file sales tax returns either monthly or quarterly. Basically, you pay the difference between the sales tax collected from your clients and the sales tax you paid on business expenses. You'll need to maintain standard accounting ledgers plus income and expense logs. Along with your sales tax filing, you'll submit your purchase records through the IRS portal.
- Since I get a 25% deduction for artistic work (which falls under that category), that means out of $400,000, I'm left with $100.
That’s not quite how it works anymore. You'll file your annual income tax return by the end of February for the previous fiscal year.
- On that $300,000, there are other deductions (let's say there's $3.25 worth of deductible business expenses) - That leaves $97, and then I pay a 36% tax rate because total revenue went over $360,000?
So, would my annual tax be 36% of $290,000, which means $35...?
The income tax rate is 20% up to $360,000.$0.00 Anything above that is taxed at 30%. Your taxable income is your gross business revenue minus business expenses, both excluding sales tax. You can also factor in depreciation and any other legitimate business deductions you qualify for.
Did I get that right, or am I missing anything else?
It’s not just about the slow connection; the service provider keeps dropping the call after I’ve been on hold for maybe two or three minutes. At that point, there are three open ports active, so I'm trying to track down a potential attacker.
neonsurfer13 said:I’m telling you, it’s incredibly confusing because one person tells me one thing, and someone else tells me the exact opposite. One accountant told me it was totally fine to use my personal car and just write off 50% of the gas and 100% of the registration and insurance. Then I reached out to AECOM for clarification, and they told me there's no way to claim vehicle expenses unless the car is listed as a long-term asset—which basically means the car has to be owned by the company, not me personally. The accountant swears up and down that AECOM is wrong... so now I'm stuck in the middle.
All I want is to make sure I don't screw this up and end up getting hit with a massive fine from the IRS.
Just ask your contact at the IRS; you'll probably get the same answer AECOM gave you.
If you're using your own car for work stuff, just make sure you file those mileage logs. When you turn in your expense reports at the end of the month, you can get reimbursed for using your personal vehicle for business.
That only works if the company is strictly a rental agency. If we're talking about a vehicle listed as a long-term asset, only employees can drive it—and unless they’re an authorized staffer or the actual owner, they aren't allowed behind the wheel. I'm not even debating whether that scenario is possible; just give it a shot and you'll see I'm right.
It’s not actually banned; there are just specific rules on how you can go about it. The question was... Quincy:
Is there any way to just scrap the mileage log entirely and just stick to claiming 50% of fuel, registration, and depreciation?
All I really care about is putting the car under the business name so I can write off at least half the sales tax. As long as I don't have to worry about some cop pulling me over and giving me grief for using a company vehicle for personal errands, I'm good.
They obviously never had any control; people just love bragging about their own stupidity. Unfortunately, here in the States, everything is strictly regulated—if you don't follow the law, you pay the price. The link I attached should have the answer you're looking for.
neonsurfer13 said:Alright, so I get it—fuel and tolls are deductible when you're using the car for business trips or client meetings. That part is easy. But what about when employees use those cars for personal stuff? Like I said before, I don't see how employees who get company cars for 24-hour shifts manage this. They probably only use them for work part of the day. There's no way they're filling out a formal travel log for every single grocery run or weekend trip, right?
Is there any way to just scrap the whole travel voucher headache and instead just claim 50% of the fuel, registration, and depreciation costs?
My main goal is just to buy the vehicle under the company name so it counts as a business expense and I can write off at least half the sales tax. But I want the freedom to use it personally without some auditor breathing down my neck or claiming I'm misusing company property if the car is registered to the business.
If there’s no mileage log or paperwork to back up those trips, the vehicle can be pulled from the road and the owner could face some serious trouble. Check out this link from the IRS for more info: https://www.irs.gov/newsroom/publication-details
Quincy:
Is there any way to just skip the whole mileage log thing and just claim 50% of the gas, registration, and depreciation instead?
Nope.
Quincy:
My main goal is just buying the car through the company so it counts as an expense and I can write off at least half the sales tax, but still being able to use it personally without... worrying someone will call me out on the street for using a company vehicle for personal errands if it's registered to the business.
You basically answered your own question—the kind of loophole you're looking for doesn't exist anymore.
Basically, a deductible expense is only one that’s actually necessary for doing business. You need a travel voucher to justify any reimbursements, and those payouts have to be logged via a JOPPD form when you file with the IRS. Is it really that hard to fill out a travel voucher and make sure everything's accounted for?
Now that there’s been a shake-up in ownership and management, I'm hoping for a totally different approach to the issues I brought up. I'd really appreciate an answer from the folks in charge. If leadership feels like they don't need to address this, could you please let me know why?
Since Nike and the rest of the leadership team are dodging the question, it’s pretty obvious there’s a direct link between the admin and the Master moderator. I actually asked once how it was even possible for the Master admin to have access to the specific email address I used to sign up for this forum.
Looking at the response here , the part that really stands out is when they try to shift the blame: "it’s just how the vBulletin settings are configured, not our fault."
The real question is: who is actually managing those settings? Shouldn't the responsibility fall on the people who either messed them up or intentionally left them wide open so moderators can see everyone's private data?
If most people finally decided to stop rewriting history the way they always have, it would be a massive turning point for our kind. Building up new values is always better than just tearing down what’s already there. If we could all just level up our self-awareness, we wouldn't even need to have these history debates on the forum anymore.
It’s pretty wild how none of the admins are weighing in on this, or even trying to figure out who deleted the evidence I was pointing out. Does the admin team even read the posts here? Honestly, they should be stepping up when a question like this comes up. It would show some actual respect for the people participating; clearly, I’m just misunderstanding how the hierarchy works here. The way they scrubbed the proof is shady, and I honestly can't tell how much longer they'll keep acting like this or when this forum will stop being just a playground. Master constantly complains about my writing style, but that's just because the mod is stuck in the last century and doesn't get how much things have evolved lately. It's weird, though—I haven't had a single complaint from any other mods in the past year, even from users who aren't part of that little clique Master always defends whenever they start dogpiling someone.