Per Diem and rates write offs?
I get remunerated a per-diem of $18.00 an hour. I recently recieved my W2 and be surprised that it did NOT show up on it. When my tax guy done my taxes ending year under this same scenario he wrote sour ALL my miles and hotel stays related to work. It seems that my expenses related to work should dive under the per diem and I should NOT know how to write them off. How does this work?Answers: In an in charge plan (you report your expenses to your employer), you are only allowed to claim your business expenses minus any reimbursements you received. Your reimbusements are not considered income. However if your employer uses a nonaccountable plan (you do not report your expenses to your employer), your reimbusements are reported as wages contained by Box 1 of your W2, they are considered income and taxed, and you would be capable of deduct the full amount of your expenses. See IRS Pub. 463
Can 2 people claim the same dependents on their taxes if the noncustodial parent pays child support?
Answers: The dependent goes with the parent who the child lives with - child support has no bearing on this - it is neither income to you or a deduction for your ex. If you both try to claim the same dependent the IRS will contact both of you and penalize the party who incorrectly claimed the dependent.
The noncustodial parent can ASK the custodial parent to sign a form 8332. If the custodial parent is willing, then the non-custodial parent attaches the form to their tax return and gets the $3400 exemption and child tax credit only. The eligibility for HOH, child care and EIC stays with the custodial parent.
Child support does not give the non-custodial parent any rights. (In order to ask for the form 8332, you and the mom have to pay enough support to cover at least 50% of the total.)
They can, but one will get "caught"...who gets to claim? Usually that is set in the divorce decree, but if not, the person who contributes the most money to their care. Most always, the custodial parent. Child support doesn't usually come close to what it costs to raise a child. If you are not sure-I would contact the Department of Legal Aid in your state.
Good Luck!
No, only one person can claim a child. You might negotiate with your ex to trade years or to split the kids if you have more than one.This is usually decided in the divorce decree (so you might want to check that first).
No. Each person can be claimed as a dependent on a maximum of one return. In rare cases, it may be possible for one person to claim an exemption and another person to claim the child for the EIC. However, that applies ONLY if the rules for children of divorced or separated parents state that only the noncustodial parent can claim the exemption for the child AND the custodial parent qualifies to claim the child for the EIC.
Worksheet is not part of antegral part of accounting but still it used in accounting why?.?
Answers: If you refer to Journal as worksheets. Journals are the basis for posting accounting entries ( bookeeping ).
Have a nice day !
Not quite sure what your question is.
If you're asking why worksheets are used when learning accounting it is because you don't really understand accounting until you've manipulated it.
If you're asking the value of worksheets that lead to calculations for things you later actually journal entry it is because it is because there needs to be an "audit trail" for what goes into the General Ledger and subsidiary accounts. Simply making a an entry in the GL for "accrued income" has no value if you can't explain how you calculated it. (e.g. You have a worksheet that shows sales made within the period but not actually booked until after the period.)
Auditing is an important part of accounting. This is why most companies have both internal auditors (if large enough) and external auditors. Also of course taxing authorities are apt to audit you periodically to make sure you're paying the correct amount of tax.