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Tax Deductions


I'm glad someone finally said it. I've been told by several techs that "hey, this local company only pays $35 an install, but they supply your truck and gas, and pay for your insurance, etc. - it all works out about the same". Sorry, but it doesn't, and let's also mention they want to charge you $40 a day to drive the van home at night... (roll) (upyours) . Unfortunately I've noticed most people aren't that good at math when it comes to these kind of things, or interest, or investments, etc.

I figure that after deductions you're pretty much driving for free anyway. But don't think that $100 in deductions equals $100 in tax savings - it only reduces your taxable income by $100. I usually figure $100 in deductions is worth about $25 in actual tax savings. Of course this would depend on what tax bracket you would be in before considering deductions compared to after deductions. Correct me if any of this is wrong.
This is CABL.com posting #192000. Tiny Link: cabl.co/mX6W
Posted in reply to: Re: DirecTV HSP in Philadelphia? by rmblnmn1
There are 3 replies to this message
Re: Tax Deductions joeatstellar 6/9/2007 10:43:00 PM
Re: Tax Deductions joeatstellar 6/8/2007 10:02:00 PM
Re: Tax Deductions rmblnmn1 6/8/2007 11:52:00 AM