Posted on 07/05/2022 9:22:59 AM PDT by tired&retired
“Hours are not deductible”
Not sure I understand your comment.
“Volunteer hours are NOT deductable, even if it is in your line of business.
Does NOT help those using their personal vehicles for work.
If you are using your personal vehicles for work, and get a W2 from said work, then the company is supposed to reimburse you.
If you are gigging it around town working for Instacart or Favor, then those are deducted as expenses against the 1099 that you will receive.
At one time not so long ago you could deduct the difference between the federal rate and the employer’s rate (they are not obligated to pay the federal rate).
Suffice to state that many are getting screwed.
For now, the IRS does not make a distinction.
Yeah, that all went away with the “Tax Cuts and Jobs Act” at the start of 2018.
I used to get a monthly car allowance but always drove over. Good paying job so I just wrote off the difference in mileage, meals and tools.
Technically it may come back in 2025 ...
Not sure YOU understand the question..
I read it wrong as we were talking about mileage previously.
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