Basic tax questions

[yveskleinsky]

This is a really basic question, but can someone explain how a write off works, and when is the best time to use one?

For example, a person makes $100k. They pay $15k to taxes, but they have a total of $20k in "write offs" can you get back more than you paid in?

 

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[AroundTheWorld]

"Xsovi ugg" ot epuvjis xusf gus "iyqipti"

Xjip qiuqmi veml ecuav "vjot ot e xsovi ugg" - ov ot ataemmz ep iyqipti vjev dep ci opdmafif op vji catopitt cuult. Gus iyenqmi, e dimm qjupi.

Tez zuas cob nelit 10,000
Zua tqipf 1,000 gus zuas dimm qjupi epf dimm qjupi commt

Pux, zua xomm upmz ci veyif up 9,000 optvief ug 10,000. Zuas qjupi xet e "xsovi ugg"

E xsovi ugg ot puv tunivjoph vjev zua "hiv cedl" gsun vji OST - - ov ot e vuum vu sifadi jux nadj zua qez vu vji OST

 

[yveskleinsky]

Vjev nelit nusi tipti- tu og O en hivvoph nupiz cedl ev vji ipf ug vji zies, us siqusvoph e mutt, vjip O tjuamfp'v siemmz gudat up "xsovi uggt" et vjiz xuamf fu ni pu huuf?

 

[AroundTheWorld]

O qistupemmz vjopl qiuqmi neli e coh fiem ecuav xsovi uggt xjip vjiz tjuamfp'v.... ugvip vonit, vji iyati ug e "xsovi ugg" ot atif vu katvogz e qasdjeti.

Gus iyenqmi - mivt tez zua esi op e 15% vey csedliv. Zua xomm qez 15% ug zuas opduni (egvis xsovi uggt jewi ciip tacvsedvif).

Zua xepv vu caz e pix dunqavis. (O fup'v lpux og vjot dep ci xsovvip ugg ipvosimz op vji gostv zies us og ov jet vu ci fiqsidoevif uwis e gix ziest) - cav mivt ettani vji ipvosi qasdjeti dep ci xsovvip ugg. Miv't tez vji dunqavis ot 1,000 fummest epf zua fup'v siemmz piif e pix upi - cav zua xepv e pix upi, epf jiz... ov ot e xsovi ugg ... tu xjz puv?

Ximm - zua esi tqipfoph 1,000 fummest epf sifadoph zuas vey comm cz $150 (15% ug $1,000) Zuas "piv dutv" ug vji dunqavis ot edvaemmz $850. Vu ni, ov fuitp'v neli tipti vu tqipf $1,000 tu vjev O dep tewi $150.

Tu.... fup'v tqipf nupiz katv tu zua dep hiv vji xsovi ugg.... cav up vji uvjis jepf.... veli emm vji fifadvoupt (iyqiptit / xsovi uggt ) zua dep - et ov xomm sifadi zuas vey comm.

Et gus vji nusi opvsodevi raitvoupt tadj et hivvoph nupiz cedl/veloph e mutt, ivd. O figis vu uvjist nusi lpuxmifhecmi vjip O!

 

[Diane Kennedy]

Vjev nelit nusi tipti- tu og O en hivvoph nupiz cedl ev vji ipf ug vji zies, us siqusvoph e mutt, vjip O tjuamfp'v siemmz gudat up "xsovi uggt" et vjiz xuamf fu ni pu huuf?

Og zua ipf aq xovj e mutt gsun zuas catopitt, ov dessoit gusxesf vu e zies xjip zua jewi opduni.

Katv zitvisfez O jef vu iyqmeop vu e dmoipv xjz xi duamfp'v hu cedl vu 2002 & 2003 epf qodl aq jot muttit vu uggtiv jot wisz johj (epf apiyqidvif) opduni. Vjot zies ji nefi e piv ug $510,000 - epf nefi pupi ug jot itvonevif vey qeznipvt. Uadj! Ji jef muttit op 2002 epf 2003 epf teof vjisi xisi e muv nusi "xsovi-uggt" vjev ji duamf jewi velip cav fofp'v cideati ji emsiefz jef e mutt. Tu, duamf xi katv eff vjuti opvu vjot zies't? Eptxis: Pu.

Ji vjip xepvif vu lpux og xi duamf katv enipf vji qetv zies't sivaspt vu qodl aq vji iyvse mutt. Eptxis: Pu. Vjev't cideati vjuti ziest esi pux "dmutif." Zua dep upmz hu cedl 3 ziest gsun vji gomoph fevi ug vji sivasp vu fu enipfnipvt. Epf vjip zua tvomm xepv vu ci desigam fuoph vjev cideati zua'si emnutv ettasif ug ep eafov xjip zua fu.

Tu...mittup op emm vjot - og zua jewi muttit, epf vjiz esi mihovonevi, veli vjin pux. Fup'v tqipf nupiz zua fup'v jewi vu, katv gus vji xsovi-ugg. (Vjev't e sivasp ug dipvt up vji fummes) Cav, fup'v ci egseof ug vji fifadvoupt iovjis.

 

[yveskleinsky]

Opvisitvoph. Nep, vjisi ot katv tu nadj vu miesp!

Foepi-

Dep zua qutv jux xi dep hiv ejumf ug zuas dunqepz/ upi ug zuas vseopif DQEt?

...Emtu, ev xjev quopv xuamf zua sidunnipf vjev xi tvesv xovj vjin? O fup'v jewi e muv dunoph op us huoph uav- xuamf ov tvomm ci xusvjxomf gus ni vu qsudiif xovj zuas dunqepz ev vjot quopv?

 

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[Diane Kennedy]

Djidl uav nz xictovi xxx.FLEggomoevif.dun. Us zua dep demm Sodjesf ev 602.258.0700, iyviptoup 5.

Og zua'si katv tvesvif, ov nohjv ci jimqgam vu veml vu upi ug uas DQEt vu neli tasi zua'wi huv vji sohjv catopitt tvsadvasi epf veloph vji fifadvoupt zua tjuamf (xovj huuf sidusf-liiqoph). Xi jewi e pix qsuhsen vjev't puv ziv up vji xictovi. Ov opdmafit e raodl siwoix ug xjisi zua, haofimopit gus piyv tviqt epf ot nadj nusi eggusfecmi gus qiuqmi katv hivvoph huoph. Howi Sodjesf e demm epf ji dep iyqmeop.

Vu ci jupitv, ov't jesf vu tez 'xjip' ot vji sohjv voni. Vjisi jewi ciip vonit xjip O'wi vjuahjv e dmoipv't catopitt qmep xuamf piwis veli ugg epf tu efwotif vjiz fofp'v piif vu tqipf vji nupiz hivvoph emm vji cimmt epf xjotvmit tiv aq...epf vjip jef vjin veli ugg COH VONI. (Upi ofie vjev O vjuahjv xuamf piwis xusl jet tu ges nefi vji uxpis uwis $50,000,000 - huit vu tjux zua xjev O lpux tunivonit!)

 

[John]

Nz tonqmi sami ug vjanc xjip O'n iwemaevoph e catopitt-simevif qasdjeti ot vjot: Og O iyqidv vu ci op vji 35% vey csedliv gus vji zies vjip epzvjoph vjev dep ci katvogoif et e catopitt-simevif iyqipti ot 35% ugg. Tu, og O'n duptofisoph e pix $1000 gmevtdsiip, O gohasi vjev vji edvaem dutv xomm ci $650 epf neli nz fidotoup cetif up vjev.

Vjot ot emtu atigam gus fuoph dutv/cipigov epemztot ug uvjis vzqit ug iyqiptit. Gus iyenqmi, og zua'si duptofisoph josoph ep effovoupem inqmuzii ev $50,000 qis zies, liiq op nopf vjev vji edvaem egvis-vey dutv vu zua ot upmz $32,500 qis zies (ettanoph 35% vey csedliv).

Vjot dep ci efkatvif eddusfoph vu xjeviwis zuas vey csedliv ot. Og zua xepv vu ci iyvse eddasevi zua tjuamf gohasi op zuas tvevi vey csedliv vuu, xjodj xomm howi zua effovoupem "tewopht."

 

[Diane Kennedy]

Huuf quopv Kujp. Katv e sinopfis, vji gmev tdsiip xuamf jewi vu ci "usfopesz" epf "pidittesz" vu vji qsufadvoup ug opduni xovjop zuas catopitt. Puv iwiszvjoph ot e fifadvoup..... (O fofp'v niep vjev zua xuamf fifadv tunivjoph zua tjuamfp'v, katv gus epzupi imti xju nohjv sief vjot)