IRS How to Qualify for the IRS Uncollectible (Hardship) Status, if You Are Unable to Pay Your Tax Bill If you owe the IRS and are unable to settle your tax bill because you do not have the resources to do so; don’t panic, there might be a way out – the IRS could declare you “Uncollectible.” In order to be declared uncollectible by the IRS, you will have
IRS Doing Charity or Out On Medical Leave? Don't miss out on these tax deductions! Did you know that business travel is not the only type of deduction you can submit to the IRS? Trips made for charitable or medical purposes count too! Charity-related deductions Deducting mileage expenses relating to charitable activities can be handled through the Standard Charity Mileage Rate, or by deducting the
self-employed Here's Why Driving a Compact Car Gets Money in Your Pocket It isn't exactly breaking news: driving a compact car, or even a small sedan is a lot cheaper than a large sedan or SUV. This is especially true if you are using this car on business, thanks to IRS standard mileage rate. Here's why: A recent report by AAA shows
IRS The Home Office Deduction If you use a part of your home for your business or for your employer’s business, you can claim a deduction for the business use of your home. This deduction is referred to as the home office deduction. There are some tests that you must meet to be eligible
self-employed 2 Cases of Driving To and From Home That Are Tax-Deductible In our previous post, we discussed the cases in which you can deduct your mileage expenses from your taxable income, using the IRS Mileage Rate. The IRS normally excludes home-work commute from "deductible mileage". However, there are two exceptions to this rule: 1. Home Office If your home is your
IRS Do Not Use Actual Expense Deductions Until You Read This! Business travelers in the USA have two possibilities for deducting expenses. Both methods involve keeping accurate records, but one may be superior to the other based on your situation. These methods are the Actual Expense and Standard Mileage Rate methods. The Actual Expense Method This method involves the recording of
self-employed Defining a Self-Employed Individual A self-employed taxpayer is an individual who is in business for himself or herself, and whose business is not incorporated. You are considered self-employed if the following applies to you: * You carry on a trade or business as a sole proprietor. * You are an independent contractor. * You are a member
mileage 4 Things You Need to Know About US Mileage Deductions If you're anything like me, you drive a lot. Do you also know that some of these trips can be deducted from your income tax? This can be done through the use of the IRS Mileage rate. 1. What is the IRS Mileage rate? The IRS Mileage rate is rate
ios Classify trips with Psngr 2.2 One of the prominent new features in Passenger v2.2 is trip classification. It's easy: just add a note with tags to your trip. Here's how: Last week I logged a return trip from the office to a client in the city. I opened the trip details and added the
All systems go We're live! Nice. So what's in it for you? This blog will bring you news and tips from Psngr dev team, as well as advice about logging and expensing your travel. Stay tuned...
