HDTenEightyP/NetNews huggingface dataset:
From: bwood@nssdca.gsfc.nasa.gov (William Wood)
Subject: LAYOFF DEDUCTIONS
News-Software: VAX/VMS VNEWS 1.41    
Organization: NASA - Goddard Space Flight Center
Distribution: usa
Date: Tue, 22 Dec 1992 18:05:00 GMT



Can anyone please post a few of the acceptable expences one
can claim on their tax return for expences incurred during 
times of unemployment?

Some examples might be: Resume prep; copies; postage; etc.

What about: travel (gas) expences?  (per mile).
          : Phone calls
          : etc

Please post, or send to my e-mail if you have some other ideas.  
I appreciate this.  Thanks in advance.  Bwood@nssdca.gsfc.nasa.gov
From: bdowning@schunix.uucp (Bill Downing)
Newsgroups: misc.taxes
Subject: Re: LAYOFF DEDUCTIONS
Date: 26 Dec 92 23:09:13 GMT
Distribution: usa
Organization: SCHUNIX Public Access Unix for Worcester County, MA, USA

In article <22DEC199213050255@nssdca.gsfc.nasa.gov> bwood@nssdca.gsfc.nasa.gov (William Wood) writes:
>
>
>Can anyone please post a few of the acceptable expences one
>can claim on their tax return for expences incurred during 
>times of unemployment?
>
>Some examples might be: Resume prep; copies; postage; etc.
>
>What about: travel (gas) expences?  (per mile).
>          : Phone calls
>          : etc
>
>Please post, or send to my e-mail if you have some other ideas.  
>I appreciate this.  Thanks in advance.  Bwood@nssdca.gsfc.nasa.gov

I saw an article in the Boston Globe written by a financial columnist
that said all job-hunting related expenses can be treated as Itemized
Deductions (Schedule A). The article cited resume prep, copies,
postage, and standard mileage allowance for traveling to and from
interviews (it's either 27.5 or 28 cents per mile now) as deductible.
What I'd do is contact an accountant about exactly what is and is not
deductible (or save the receipts and have him/her figure it out!)


-- 
Bill Downing, President		Email: bdowning@schunix.uucp
DOWNING ASSOCIATES, INC.
8 Doyle Lane, Hopkinton, MA 01748
508-435-4567
Newsgroups: misc.taxes
From: rohrernl@helix.nih.gov (Nathan Rohrer)
Subject: Re: deductability of a home PC used for
Organization: National Eye Institute, National Institutes of Health
Date: Thu, 31 Dec 1992 13:42:17 GMT

>this.  In general, money spent to enhance present earnings is
>deductible, with limitations, against those earnings.  DMcKenzie

Is it generally better to let your employer pay for education expenses (is 
this taxable?) or pay for them yourself and use the deduction on your taxes?




/*********************************************************************/
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Newsgroups: misc.taxes,misc.invest
From: etpeters@dal.mobil.com (E. T. Peterson(Eric))
Subject: Original Issue Discount
Organization: Mobil Exploration & Producing Technical Center(MEPTEC), Dallas. 
Distribution: usa
Date: Mon, 21 Dec 1992 20:09:59 GMT

I need some advice from you tax/investment gurus out there.

I have some "Bank Atlantic Financial Corporation Subordinated Debentures".
They are supposed to pay approximately 10% per year until they mature in
the year 2011.  They have stopped paying the interest on them.  Instead, I
get a form 1099-OID (Original Interest Discount) which forces me to pay
tax on the interest that they should be paying me, but aren't!  Such a deal!

I have two choices:
1) I can get rid of them now for $5. (They are supposedly $3300 in principal).
2) I can hold them until 2011, paying taxes on all the phantom income, and
then have a capital loss write-off when they mature and the company defaults
on them.

I am trying to analyse choice #2, but I have the following questions.

a) In 2011, will I be able to write off the principal and all interest as
a capital loss? (Yes, I know there is a $3000 limit on losses. Assume I strike
it rich that year and have plenty of gains to offset!)

b) Does the writeoff in 2011 include compunded interest or simple interest?
$3300 compounded at 10% gives a $20182 writeoff.  Simple interest gives $9570.

c) Is the OID that I pay taxes on each year the simple interest ($330 per year)
or is it compounded (rises every year).

d) If I sell now, do I get a capital loss of $3300-$5= $3295?

Thanks for your help.

*********************************************************************
Eric Peterson                  The sooner you fall behind,
Research Geophysicist          the more time you'll have to catch up!
(214) 951-3251
etpeters@.dal.mobil.com
*********************************************************************
Newsgroups: misc.taxes
From: dattier@ddsw1.mcs.com (DWT)
Subject: Re: Is interest on IRS refund taxable??
Date: Sat, 2 Jan 1993 19:44:13 GMT
Distribution: usa
Organization: Contributor Account at ddsw1, Chicago, Illinois  60657

stanton@haas.berkeley.edu (Richard Stanton) wrote in
<1hu4ebINN4do@agate.berkeley.edu>:

| I just received a tax refund after filing a 1040X for 1991. I received
| more than I asked for, also being paid interest since (I assume) April
| of this year.
| 
| Is this interest taxable?

Yes.  If it is $10.00 or more, the IRS will issue you a 1099-INT for it.

Moreover, unlike interest on Treasury obligations, states are allowed to
tax interest on IRS refunds.  My home state does and I'd be very surprised
if California does not (assuming Mr. Stanton is a Californian).

David W. Tamkin   Box 59297   Northtown Station, Illinois  60659-0297
dattier@ddsw1.mcs.com    CompuServe: 73720,1570    MCI Mail: 426-1818
From: jeannie@scri.fsu.edu (Wicked Witch )
Newsgroups: misc.taxes
Subject: Widow/IRS problems
Date: 24 Dec 92 16:22:03 GMT

My husband, of less than 2 years, owed the IRS $10,000 (for problems 
arising with an ex-wife) We did not file jointly last year.  However he 
committed suicide 2 weeks ago (with no estate, he had nothing when I 
married him except his clothes and we aquired nothing together since I 
already owned my home) and the local agent handling his claim wants me to 
file a joint return as his widow.  He says they won't touch my money, but 
I don't trust these people and I plan on filing seperate returns.  Anyone 
out there who can give me some legal/and or first hand experience or 
advice on this matter?


Jeannie

If you don't care where you are, then you can't be lost.
From: cep@taligent.com (Christophe Pettus)
Newsgroups: misc.taxes
Subject: Re: Is alimony deductable?
Date: 21 Dec 92 20:30:20 GMT
Organization: Taligent, a little subsidiary of two really big companies.

In article <1992Dec21.164030.15820@mailer.cc.fsu.edu> pappy@lorenz.ocean.fsu.edu (El Viejo) writes:
>
>The subject title asks the question. Are there different forms of 
>alimony that are (not) deductable such as lump sum payment as opposed to  
>monthly payments?
>
>I'd appreciate any information the netters could provide.

The short answer is, yes, alimony can be non-deductible under some
circumstances (or, rather, the IRS can treat certain payments from one
ex-spouse to another as non-alimony).  My recommendation is get the
(excellent) Nolo Press books on marriage and divorce law.
--
-- Christophe

"I draw the line at Styrofoam packing kernels, you sick pervert."
From: tpradeep@cs.tamu.edu (Pradeep K Tapadiya)
Newsgroups: misc.taxes
Subject: Can medical insurance be treated as a medical expense?
Date: 3 Jan 1993 23:51:10 GMT
Organization: Computer Science Department, Texas A&M University
Distribution: usa
NNTP-Posting-Host: neuron.tamu.edu

Greetings,

Since my employer's contribution towards my medical insurance is
not enough, a part of my income (deducted directly from my paycheck),
goes towards the insurance.

I am wondering if this contribution of mine can be treated as a medical
expense. It only seems logical to me.

Can someone please enlighten me?

Thank you for your help.

Pradeep
tpradeep@cs.tamu.edu 
Newsgroups: misc.taxes
From: cep@taligent.com (Christophe Pettus)
Subject: Re: Side job - Expenses deduction?
Organization: Taligent, a little subsidiary of two really big companies.
Distribution: usa
Date: Tue, 22 Dec 1992 00:16:02 GMT

In article <1992Dec21.190155.12485@chiton.ucsd.edu> martin@chiton.ucsd.edu (Martin Olivera) writes:
>I have a "side-job" which brings in about 2 to 3K a year (natural language
>translations). Is it possible for me to deduct the expenses related to this
>job? (office supplies, floppy disks, computer!! used for word processing, etc).
>If so, do I need specific forms?

The answer is, basically, yes.  The good news is that side businesses
are one of the few remaining serious tax shelters; the bad news is that
the IRS is very aware of this, and examines such things very
carefully.

The basic form is Schedule C of Form 1040, on which you itemize
business expenses.  There are special rules for certain kinds of
business equipment, among them computers.  Many good general tax guides
have good information on how to fill out Schedule C; for general
business and business tax info, I'd recommend SMALL TIME OPERATOR from
Bell Springs, and THE LEGAL GUIDE TO STARTING AND OPERATING A SMALL
BUSINESS from Nolo Press.
--
-- Christophe

"I draw the line at Styrofoam packing kernels, you sick pervert."
Newsgroups: misc.taxes,misc.invest
From: tony2@prefect.cc.bellcore.com (gozdz,antoni s)
Subject: Investor's FastTrack - any users on the net?
Organization: Bellcore, Livingston, NJ
Distribution: usa
Date: Thu, 31 Dec 92 14:46:52 GMT

I wonder if there are in this group any users of 
Investor's FastTrack, a mutual fund daily tracking service.
In particular, I'm interested in people's opinion on
the relative merits of various technical methods
(various moving averages, stochastic indicators, RSI,
etc) to "predict" the performance of various types of 
mutual funds.

FYI, Investor's FastTrack provides daily NAV values
for 720 mutual funds and 20 indices thru a 1-800
number; its annual subscription is $240. This includes
the main program with 10 technical methods and a
NAV + distribution database going back to 9/1/88.
It covers stock, bond, closed-end country, and money 
market funds.

Tony
From: bakken@cs.arizona.edu (Dave Bakken)
Newsgroups: misc.taxes
Subject: deductability of a home PC used for education
Date: 30 Dec 92 06:59:08 GMT
Distribution: usa

I am about to purchase a low-end 486 PC, to be used
almost exclusively for home education programs for
my oldest daughter and for typesetting my dissertation
and other papers.  Is there a chance that I can deduct
the cost of the PC (and perhaps educational software)
as an educational expense?  The answer to this affects
whether I buy it in the next few days or wait (a few
more) until 1993.  Thanks for any tips!
--
Dave Bakken                               Internet: bakken@cs.arizona.edu
Dept. of Computer Science; U of Arizona   Voice:    +1 602 621 4098      
Tucson, AZ 85721; USA                     FAX:      +1 602 621 4246
The fact that you're paranoid doesn't prove they're *not* out to get you.
From: "hilary miller" <hilary.miller@execnet.com>
Newsgroups: misc.taxes
Subject: taxes on call options
Date: 24 Dec 92 16:13:18 EST
Reply-To: "hilary miller" <hilary.miller@execnet.com>
Distribution: misc
Organization: Executive Networks Information


Leons@hiroller Eng Sun Co, in a message to All on 12-22-92 at 10:57pm, said:

LE>|1. Suppose I own a stock and write covered call options against it
   |   that expire next year.  When is the premium recieved for the
   |   sale of options taxable?
   |   - this year, because that's when I receive the premium,  OR
   |   - next year, because that's when the options expire?
   |__________________________________________________________________

               Assuming you are not engaged in the trade or busi-
               ness of writing options, the premium increases
               your amount realized at the time the stock is
               called away from you; or, if the call expires un-
               exercised, is a short-term capital gain to you on
               the date of expiration.

LE>|2. Is the interest charged on the margin account deductible?
   |____________________________________________________________

               Yes, as investment interest, subject to the in-
               vestment interest deduction limitations.


   L A
 I    R        Hilary B. Miller of Greenwich, Connecticut
  H/\Y         CIS: 76040,1743
    
---
  DeLuxe/386 1.25 #11645  Help!  I've fallen and I can't get up!
--
Executive Network Information System  (914) 667-4567
International ILink Host
From: rand@hpfcso.FC.HP.COM (Rand Briggs)
Date: Wed, 23 Dec 1992 18:45:57 GMT
Subject: Expenses Preparing a House for Sale
Organization: Hewlett-Packard, Fort Collins, CO, USA
Newsgroups: misc.taxes



I am selling my home.  Do expenses for fixing up the
house to sell it such as replacing a broken window 
receive some sort of favorable tax treatment?

Rand Briggs

Newsgroups: misc.taxes,alt.visa.us
From: vijay@ncsa.uiuc.edu (Vijay Rangarajan)
Subject: Medicare withholding.
Originator: vijay@picard.ncsa.uiuc.edu
Organization: Nat'l Ctr for Supercomp App (NCSA) @ University of Illinois
Distribution: usa
Date: Wed, 30 Dec 1992 16:30:59 GMT
Keywords: F-1 to H-1 status and Medicare.

I have a question which hopefully some tax/visa guru can answer. My employer
has been withholding Medicare from my pay check ever since my status changed
from F-1 (Student) to H-1 (Work permit).

Tax Gurus -

Should non-residents pay for Medicare at all, considering the fact that they
cannot use it anyway ? (Kinda like Social Security). Is there a clause that
indicates classes of people that are exempt from this ?

Visa Gurus -

Should the change in status (F1 to H1) affect Medicare withholding at all ?
If, in fact, I do not have to pay for Medicare, is there a way to get a 
refund on the amount withheld so far ?

I appreciate any response/information.

Vijay.
Newsgroups: misc.taxes
From: akhiani@ricks.enet.dec.com (Homayoon Akhiani)
Subject: Schedule D and selling stock
Reply-To: akhiani@ricks.enet.dec.com (Homayoon Akhiani)
Organization: Digital Equipment Corporation
Date: Tue, 22 Dec 1992 16:09:41 GMT


From what I been told, To claim a loss on (selling) stocks and be able to 
subtract it from income, I should file Schedule D. (Is this correct?)

-Does filling Schedule D requires to itemize on 1040?
-What is the maximum amount allowed to be subtracted from income?

thanks in advance for any answers.

--
-------------------------------------------------------------------------------
Homayoon Akhiani                               "Turning Ideas into ... Reality"
Email: akhiani@ricks.enet.dec.com     "The words are mine, and not my employer"
-------------------------------------------------------------------------------
Newsgroups: misc.taxes
From: etpeters@dal.mobil.com (E. T. Peterson(Eric))
Subject: Re: Schedule D and selling stock
Organization: Mobil Exploration & Producing Technical Center(MEPTEC), Dallas. 
Distribution: usa
Date: Tue, 22 Dec 1992 22:38:32 GMT

In article <1992Dec22.160941.11646@ryn.mro4.dec.com>, akhiani@ricks.enet.dec.com (Homayoon Akhiani) writes:
|> 
|> From what I been told, To claim a loss on (selling) stocks and be able to 
|> subtract it from income, I should file Schedule D. (Is this correct?)
|> 
|> -Does filling Schedule D requires to itemize on 1040?
|> -What is the maximum amount allowed to be subtracted from income?

"No" and "$3000".  Loss is net loss, including all gains and losses.


*********************************************************************
Eric Peterson                  The sooner you fall behind,
Research Geophysicist          the more time you'll have to catch up!
(214) 951-3251
etpeters@.dal.mobil.com
*********************************************************************
Newsgroups: misc.taxes
From: cep@taligent.com (Christophe Pettus)
Subject: Re: Widow/IRS problems
Organization: Taligent, a little subsidiary of two really big companies.
Distribution: usa 
Date: Thu, 24 Dec 1992 18:43:19 GMT

In article <11600@sun13.scri.fsu.edu> jeannie@scri.fsu.edu (Wicked Witch ) writes:
>My husband, of less than 2 years, owed the IRS $10,000 (for problems 
>arising with an ex-wife) We did not file jointly last year.  However he 
>committed suicide 2 weeks ago (with no estate, he had nothing when I 
>married him except his clothes and we aquired nothing together since I 
>already owned my home) and the local agent handling his claim wants me to 
>file a joint return as his widow.  He says they won't touch my money, but 
>I don't trust these people and I plan on filing seperate returns.  Anyone 
>out there who can give me some legal/and or first hand experience or 
>advice on this matter?

I feel a bit strange offering tax advice at this juncture ("Beside
that, Mrs. Lincoln, how was the play?"), but here goes.

You are completely reasonable in your distrust of the IRS, but you
probably don't have much to worry about from them.  You are only liable
for taxes of a spouse if you signed a joint returned with your spouse
_for the year(s) for which the taxes are being assessed._  Since you
were not married when he ran up his tax bills, and thus did not sign a
joint return with him, you are not liable for the taxes.

Your taxes, in general, will be lower filing jointly than seperately.

Now, the IRS _can_ take one spouse's wages to satisfy anothers tax
debt, regardless of when the tax debt was incurred, but this is true
whether or not you file joint returns.  However, the IRS can only do
this if you are currently married to the spouse that has the tax
liability, and being his widow, they cannot seize any of your
property.

If you live in a community property state, the IRS can seize community
property to satisfy a tax debt, but most household goods are exempt.

Now, if your husband has significant assets that he was hiding from the
IRS, that they do not know about, you DEFINITELY do not want to file
jointly, as that could very well open you up to charges of fraud.

In any case, I'd talk to a tax professional with experience in this
area.
--
-- Christophe

"I draw the line at Styrofoam packing kernels, you sick pervert."
From: carl@Cayman.COM (Carl Heinzl)
Newsgroups: misc.taxes
Subject: Re: deductability of a home PC used for
Date: 31 Dec 92 17:34:33 GMT
	<rohrernl.79@helix.nih.gov>
Organization: Cayman Systems Inc., Cambridge, MA
In-reply-to: rohrernl@helix.nih.gov's message of 31 Dec 92 13:42:17 GMT
bcc: carl


>
>Is it generally better to let your employer pay for education expenses (is 
>this taxable?) or pay for them yourself and use the deduction on your taxes?
>

Anytime you can get more money out of your employer, you're better off :^)

Seriously though, even if it becomes taxable to you, you won't end up
paying FICA on that money (if you're still below the FICA limit of
approximately 55k) so you'll save in the long run.  Even if you're
over the limit you won't have to pay the 1.45% that gets taken out up
to ~125k.

Now, if your employer pays it, you will still have to declare it on
your taxes as reimbursed employee expenses (form 2106) and then deduct
it (if it's deductible).  If you have excess reimbursements it gets
added back into your income (but you still get away with no FICA).

-Carl-
--
Newsgroups: misc.taxes
From: rjn@FC.HP.COM (Bob Niland)
Subject: 1992/93 Tax Software?
Date: Wed, 23 Dec 1992 23:56:30 GMT
Reply-To: rjn@FC.HP.COM
Organization: Hewlett-Packard/WSY Ft.Collins,CO,USA
X-Newsreader: TIN [version 1.1.8 PL6]

re: since I didn't find an FAQ for misc.taxes...

What is the consensus on tax software for 1993 (FY'92 taxes)?

I'll be in the market for a package with the following characteristics:

 * All IRS forms that an individual/small business would need.

 * Prints IRS-acceptable forms on LaserJet-IIID (and includes fonts).
   (Optionally generates IRS-acceptable floppy).

 * Windows 3.1 

 * Stores multiple versions of completed forms.

 * Handles estimated tax payments for FY'93.

Any suggestions?

Regards,                                              1001A East Harmony Road
Bob Niland      Internet: rjn@csn.org                 Suite 503
                CompuServe : 71044,2124               Fort Collins CO 80525
From: millios@cbnewsf.cb.att.com (william.l.millios)
Newsgroups: misc.taxes
Subject: Married, in different states
Date: 23 Dec 92 21:34:39 GMT
Distribution: usa
Organization: AT&T

Ok, my problem has a couple of different facets, so if you can
help me out with any or all of it, I'd appreciate it.

The first problem is that I got married on Thanksgiving.  (No,
marriage is fine, but the taxes are worrying me.)  Since I
live in NJ, and my wife lives in DC, there's some serious difference
between us and most people - I'm having NJ tax deducted, and she's
having DC tax deducted.

So, maybe I'm not totally screwed, but what I want to know is,

a) Can we file separately under state, and jointly for the Fed?
b) should/could one of us "pull out" all the dollars from one state,
   and sink it into the other?  This would require a big payout on
   our part, for which we're really not prepared.  Since she's moving
   to NJ in a couple of years (long story), seems like NJ is the 
   obvious choice.  On the other hand, however, I suspect that DC
   has a lower tax rate.
c) is it better for both of us to file married but separately?


To further bollux up the works, we are looking into starting a small
business - my wife does seamstressing, quilting, and fabric 
craft stuff on the side, and I'm into woodworking.  I'm looking at
making a serious effort into this over the next couple of years,
which requires major investment.  Income from this will further
complicate tax forms.

For simplicity reasons, and because the "sales" from the business
will happen in DC, the tax ID number and the "home occupany permit"
we are getting from DC.

If I personally am making big investments into this business (and
believe me, I will be) how do I figure that in, *if* we are filing
married but separately?  For now, we were at least smart enough
to put the business in her name (had to, since she is the only one
living in DC).

Can somebody help me out here?  The first problem is more immediate;
I suspect I'll need big-time (read "I gotta pay for it" advice on
the second problem).

Bill
Newsgroups: misc.taxes
From: cpg@caribbean.bellcore.com (Curt Goedde)
Subject: Inheritance Tax Question
Organization: Bellcore
Date: Tue, 22 Dec 92 14:53:18 GMT

After all estate taxes have been applied to the distribution of an
estate, is the remaining inheritance taxable as part of normal income
to the benefactors?

-- 
Curt Goedde                    |    Bell Communications Research
cpg@caribbean.bellcore.com     |    Piscataway, NJ
From: aa473@cleveland.Freenet.Edu (James Brown)
Newsgroups: misc.taxes
Subject: Re: Side job - Expenses deduction?
Date: Tue, 22 Dec 92 08:31:06 -0500
Organization: Fedtax-L<==>Misc.Taxes Gateway
X-Gateway-Source-Info: Mailing List



>
>The answer is, basically, yes.  The good news is that side businesses
>are one of the few remaining serious tax shelters; the bad news is that
>the IRS is very aware of this, and examines such things very
>carefully.
>
>The basic form is Schedule C of Form 1040, on which you itemize
>business expenses.  There are special rules for certain kinds of
>business equipment, among them computers.

Does the rule on home computer logs of use apply if the computer
is owned by a partnership and the computer is a vital part of the
business (developing business application packages)?

If the partnership was renting office space the IRS doesn't question
the total write off so what is the difference if the office happens
to be in my basement and no rent is charged.

Jim Brown
Newsgroups: misc.taxes