Tax write off

 

I wonder if I can write off my GPS that I use for work has a Tool device?
I could not do with out the GPS for work.Gets me places for road calls,safe and fast.
I can't find my way out of a Brown paper bag without my GPS for work.
Ron

I have written it off this

I have written it off this year, I'm curious if causes a problem. It really shouldn't though. After all I drive for a living. Let say someone uses there automobile to go to work and back home. Why not just try to write it off, just as someone would do by saving receipts for gas or tolls. Bottom line I don’t think it can hurt. smile

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nüvi 3590LMT "always backup your files"

Depends

If you drive for your business and you take a mileage deduction, then maybe.

If you don't use your car for your own business except commute to and from work, I think not.

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nüvi 750 & 760

We just had our taxws

We just had our taxws done,could not do it,was not enough to claim the wife said,or something like that.She's my Banker and so on.The BOSS.
Ron

Tax write off

If you are an employee of a company, and use your GPS in service for that company, you can write it off if you itemize your deductions. ie...medical, mortgage....etc
If you are self-employed you can write the cost off much the same as you would any other expense in running your company.

Remember the 2 percent floor

If your employer does not reimburse certain expenses and you want to deduct those expenses on your tax return (specifically, on Schedule A), your deduction is limited to the amount that exceeds 2 percent of your AGI (adjusted gross income). In other words, if your AGI is $100K and your non-reimbursed business expenses is $2,500, you would only be able to deduct $500 (2,500 - (2% X 100,000)) on your Schedule A.

If you are self-employed, however, you would be able to deduct the entire expense.

Also keep in mind that laws

Also keep in mind that laws differ in every state so please remember to check with your CPA aka Accountant.

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nüvi 3590LMT "always backup your files"

That's good news

to me. I was oping to write mine of since I am self employed as a courier.

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Not doing anything worth a darn.

Tax Write Off

bandaid wrote:

Also keep in mind that laws differ in every state so please remember to check with your CPA aka Accountant.

Hmmmm.....probably good advise but......the laws regarding FEDERAL taxes do NOT vary by state and that's where most people are likely to run into a problem.

The few states where I am familiar with State income tax start the calculation with AGI from the Federal form and don't monkey around with a lot of itemized deductions. YMMV.

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Magellan Maestro 4250// MIO C310X

if it is used for business

if it is used for business then that portion can be claimed

Thanks

We claimed it but not enough to write off or to claim on write off's or something like that.
Ron

If you use it for work, you

If you use it for work, you can write it off. If you use it for personal as well, you have to estimate the percentage of it that you use for work and claim that amount.