keep a eye on the end of year expense's buy or replace anything so you have it for taxes. get that last oil change end, tires, battery's etc. order before the end of year so you will be able to write it off for 2017. also good time to buy a new unit take advantage of tax savings. when buying new unit.
end of year is near
- Thread starter geo
- Start date
Thanks, I have more expenses than I could ever deduct. Anybody want to buy some?
Sent from my XT1710-02 using EO Forums mobile app
Sent from my XT1710-02 using EO Forums mobile app
Mileage & Per Deim ... is all i need
... still pond hopping
... still pond hopping
Agree.
On the downside, I couldn't contribute to the Soc Sec during the last 5 years.
but hey that merely $70 a month increase @62.
Not worth it.....Lol.
In 2015 before I quit/retired I had a lot of income and I needed to itemize and use accelerated depreciation. So now we always itemize the LLC and pass the loss through enough to get my personal withholding back. Ends up zero tax but contributing to SS.
Sent from my XT1710-02 using EO Forums mobile app
Sent from my XT1710-02 using EO Forums mobile app
I tried to play with the numbers and assume I paid into the SS. In my case, it didn't make sense and wouldn't benefits the pay out that much.
In early years with regular career, I made too much and in these later years with expediting and all of the deductions that came with it, the SS contributions will not be large enough to replace the lowest grossing of earlier years. Besides, I already have enough qualified years.
I do agree that everyone should continue to contribute especially if one has not meet the number of the requiring years or has lower gross in earlier years.
Yeah, for some of us the social security may be the only income at retirement...Bummer.
Now just in case, if anyone want to check on their current or future Soc Sec status, you can register and check online and get the projected benefits in a few minutes. Don't cry when you see your number, Lol.... Oops!
my Social Security Update Message | Social Security Administration
Last edited:
The only difference Geo is addressing is if you have exceptional profit get an expense like tires in this year
Sent from my XT1710-02 using EO Forums mobile app
Oh, that’s what “take advantage of tax savings when buying a new unit “ means.
Oh lord bless me with this dilemma at least 1 year b4 I cash in my shower ticket in the big truck stop in the sky.
Sigh!
Wait a minute ???? noisy trucks forever idling. Vapor trails of blue (or black)smoke streaking the sky. Shadows @ night of lumbering rotund creatures between vehicles. Loud stupid arguments around big TV (75 in TV with 1 channel "sports only").
CRAP !!! This ain't heaven it's ....it's ... Damn dispatchers !!! Lied too again S.O.B !!!!