Tax Question

Hoping one of the Calloway grads on here can help me with this tax question.

I work as a 1099 independent contractor and a lot of my jobs take me out of state. While at the job, the customer usually provides a hotel room and some meals, but I am on my own for many meals as well. Can I deduct 50% of the expenses for the meals not provided? If so, does it have to be the actual expense or can I use the portion of the IRS per diem rate allotted to those meals?

You can deduct 50% of your meals on Line 24b of Schedule C. It is supposed to be the actual expense, but if you don't have that, a reasonable estimate is probably your best shot.

Mistaken on the per diem rate. You can use the M&IE rates found here. http://www.gsa.gov/portal/category/100000

Read pages 5 and 6 of this which will explain everything.

http://www.irs.gov/pub/irs-pdf/p463.pdf

quick question: do i have to pay my taxes if i don't want to?

ImTheCaptain said:

quick question: do i have to pay my taxes if i don't want to?

Click to expand...

Are you a multinational corporation looking at buying a Canadian donut and coffee chain?

Then yes. You have to pay them.

Well that long running "mystery" of the identity of mystery man is now solved - if it was ever unclear who mystery was in the first place