The Official 2010 TAX filing Thread

[UteStar]

OK, so we need a thread discussing tax stuff and stuff for 2010 taxes.

My wife is taking a trip later this winter which she will be paying for but it will be a business expense. She will be using Frequent Flier miles. Is this deductible on our taxes? If so, at what rate do you do it for in regards to the miles? If we use 25,000 miles for her flight - how much could we deduct as a business expense, if we can? Yes, we will have an accountant do our taxes, but I like to have an idea of what to expect before I send him all of our info.

[Tim]

OK, so we need a thread discussing tax stuff and stuff for 2010 taxes.

My wife is taking a trip later this winter which she will be paying for but it will be a business expense. She will be using Frequent Flier miles. Is this deductible on our taxes? If so, at what rate do you do it for in regards to the miles? If we use 25,000 miles for her flight - how much could we deduct as a business expense, if we can? Yes, we will have an accountant do our taxes, but I like to have an idea of what to expect before I send him all of our info.

Not sure if this is helpful, but Delta lets you equate 100 miles with $1. So if you want to know $200 off the price of your ticket, you can spend 20,000 miles on it.

[UteStar]

I wanted to let everyone know that taxes were filed today. I can honestly say that I totally kicked the crap out of our taxes this year. It didn't stand a chance. I rocked it.

[YOhio]

I wanted to let everyone know that taxes were filed today. I can honestly say that I totally kicked the crap out of our taxes this year. It didn't stand a chance. I rocked it.

Everybody doesn't want to know.

[happyone]

I got my fed return back last month - I owe the state $100 so, I will file that this week.

[Soccermom]

Married filing jointly versus married filing separately. In calculating both, one way gives us a substantially lower tax bill. My question: assume we get audited and we filed the way less expensive way. Could the IRS somehow screw us over and claim we have to file the way that gives them the most money? I just don't get how the same income yields different tax results depending on which way we file. That seems messed up to me. I really wish everyone had to pay their own taxes instead of having them automatically deducted.

[byu71]

I am such a nice guy and so thoughtful to my CPA. I sent my stuff in today, but told her I know she is realy busy and go ahead and file an extension. I had her send the IRS and extra $2,000 just in case my withholding isn't enough.

After my experience with my audit, I didn't claim about $2,000 worth of business expenses I would have claimed in the past.

[RC Vikings]

What does any one know about the American opportunity tax credit?

[Jeff Lebowski]

What does any one know about the American opportunity tax credit?

http://www.irs.gov/newsroom/article/0,,id=205674,00.html

My son (college student) got a hefty return (~$1400) from this credit.

[MarkGrace]

Married filing jointly versus married filing separately. In calculating both, one way gives us a substantially lower tax bill. My question: assume we get audited and we filed the way less expensive way. Could the IRS somehow screw us over and claim we have to file the way that gives them the most money?

No. Take the one that is most beneficial to you.

[Jeff Lebowski]

I got everything wrapped up last week. That is one week earlier than usual for me.

[UteStar]

Everybody doesn't want to know.

Judging by the plethora of comments, it appears that you are wrong. AS USUAL.

[old_gregg]

http://www.irs.gov/newsroom/article/...205674,00.html

My son (college student) got a hefty return (~$1400) from this credit.

same here.

[hostile]

I got everything wrapped up last week. That is one week earlier than usual for me.

Me too. It's nice to have that out of the way. I'm usually going to the post office just before midnight on 4/15.

[Mormon Red Death]

I got my fed return back last month - I owe the state $100 so, I will file that this week.

humblebrag.