4 ms·

In the states if you are a contractor there are tons of things that you can deduct from your taxable income. So “figuring out how much you should be taxed” is a

by lbotos 10mo ago

In the states if you are a contractor there are tons of things that you can deduct from your taxable income. So “figuring out how much you should be taxed” is after those deductions. If uber paid you $15123 but you: Just bought a new bike bc your other was stolen You paid $1200 for insurance You bought a helmet and cold weather clothes etc etc. Those things reduce your taxable income.

a_bonobo 10mo ago
Yes, same in Australia. Keep receipts and add the cost to the web form. They have simplified it nicely, though: if you work from home you can claim a per-hour deduction so you don't have to do the math of wear-and-tear, electricity, internet etc. I think it was $0.6 per hour?
- Ekaros 10mo ago
  Finland did that even simpler more than 50% of work days you get 750€. Ofc, hard part is to calculate 50% of your internet bill. And then any technology you buy for remote work. Not chair, desk or lamps though, those are in the room part... Thankfully(\s), they are simplifying it even further next year and removing whole thing. Now you only get to deduct money if you actually rent an office...
chemotaxis 10mo ago
I think that's common in most places. What's different in the US is that the IRS forces you to proactively provide a lot more information about it, though. I have a rental property and need to enter the same information about the same income and expenses on three different forms, breaking it down in different ways. It's tedious and error-prone, and I guess the philosophy is that it's easier to spot fraud if the numbers on all the different forms don't add up to a coherent story. Other countries presumably rely on other fraud signals. They might have more visibility into your day-to-day financial transactions, or there might be more of a culture of leaving an anonymous tip if you suspect your neighbor isn't paying a fair share.
- oklahomasports 10mo ago
  What three forms are you talking about?
  - chemotaxis 10mo ago
    4562, 8825, 1065

by lbotos 10mo ago

a_bonobo 10mo ago

Yes, same in Australia. Keep receipts and add the cost to the web form. They have simplified it nicely, though: if you work from home you can claim a per-hour deduction so you don't have to do the math of wear-and-tear, electricity, internet etc. I think it was $0.6 per hour?

Ekaros 10mo ago
Finland did that even simpler more than 50% of work days you get 750€. Ofc, hard part is to calculate 50% of your internet bill. And then any technology you buy for remote work. Not chair, desk or lamps though, those are in the room part... Thankfully(\s), they are simplifying it even further next year and removing whole thing. Now you only get to deduct money if you actually rent an office...

chemotaxis 10mo ago

I think that's common in most places. What's different in the US is that the IRS forces you to proactively provide a lot more information about it, though. I have a rental property and need to enter the same information about the same income and expenses on three different forms, breaking it down in different ways. It's tedious and error-prone, and I guess the philosophy is that it's easier to spot fraud if the numbers on all the different forms don't add up to a coherent story. Other countries presumably rely on other fraud signals. They might have more visibility into your day-to-day financial transactions, or there might be more of a culture of leaving an anonymous tip if you suspect your neighbor isn't paying a fair share.

oklahomasports 10mo ago
What three forms are you talking about?
- chemotaxis 10mo ago
  4562, 8825, 1065