tax deductions for car/phone

likrySeptember 16, 2006

I am contemplating a job that will require using my car(home nursing visits). My question is if I buy a new car, as my present one gets terrible mileage, is any portion of the payments tax deductable-federal or state? I live in New York. I would be getting a mileage reimbursement of about .40/mile.

What about cell phone payments? I would need to call my clients before visiting to make sure they remember the appointment.

Thanks.

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mariend

These are questions you need to ask your tax person. Because you could/would use the cell phone for non business use, it could be only part of it would be a tax write off. Also consider your home. Are you using it for keeping records etc. Your computer also.
Also consider the upkeep of the car and because you get reimbursments that will figue in.
Good luck

    Bookmark   September 17, 2006 at 12:30PM
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azzalea

I agree. Call your accountant now--before you actually start the job--to find out exactly what is allowed, what isn't, and what records you need to keep. If you don't have an accountant, I'd look for one well-versed in tax accounting. A reputable accountant might not even charge you for that kind of advice, as long as he feels you'll be coming to him to have your taxes done at the end of the year.

It is true, if you work from home, or use your home/phone/cable, etc in your work, you can deduct portions of many of those expenses. If you don't have retirement benefits at your job, you also want to look into setting up a SEP account at the end of the year--that's a good tax deduction, AND a way to fund your future. Good luck with the new job.

    Bookmark   September 17, 2006 at 7:21PM
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