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Workamping and Taxes
Posted:
Tue Mar 13, 2012 7:10 pm
by mizdeb
I was reading an article the other day on what the IRS considers income and this question popped into my head.
When you work for your site does the normal cost count as income? Do you have to include this as barter like income on return?
Hubby is still hanging in there meds are increased daily so he is comfortable and we are not sure what he is holding on for, nor does he. Nurses say he could go at any time now.
Deb
Re: Workamping and Taxes
Posted:
Tue Mar 13, 2012 7:35 pm
by mitch5252
You have stayed strong and loving for a great deal of time now. It's difficult; many of us know.
May you continue to be strong and loving until your husband passes.
My husband of almost 40 years died just over three months ago and I am still trying to wrap my brain around how different, in so many ways, is my new life.
Re: Workamping and Taxes
Posted:
Tue Mar 13, 2012 9:21 pm
by Bethers
How the site works depends on where you workamp. If they require you to live there (most workamp jobs do) then you don't have to include the rent you are saving as income. I don't worry about all that - my accountant has to. Some places charge you something for the site - and it all depends on how they do it on your pay stub as to how it is considered by the IRS. Since I have so many deductions - and had to do taxes in 3 states this year - it can get fun - and one reason I highly recommend if you workamp that you first find an accountant you trust to do your taxes. I still use my same accountant from when I lived in WI and had a business there. Will hate it if/when I ever have to change. I think I'm a challenge for him
I used to have to live on site when I managed motels - so similar situation as far as taxes.
Here's a big hug to you and your Hubby - I know this is a very hard and difficult time for you. And it will be a new hard and difficult time when he does let go.
Re: Workamping and Taxes
Posted:
Wed Mar 14, 2012 12:08 am
by snowball
One thing to make sure of is that enough is taken out it hasn't been with us and we have had to consistently
pay the IRS what I consider a lot of money even the state we work in we have had to pay but it's not been much
pocket change basically but the IRS it's up to 500 and that I hate!
My prayers go out to you as well Deb...there must be something holding him back I tell myself that it's all in
Our Heavenly Father's plan and we know that so for some reason he or you or some one needs him longer
sheila
Re: Workamping and Taxes
Posted:
Wed Mar 14, 2012 10:13 am
by Bethers
That's another reason I use my acct. Some years he's had me do estimated tax payments - which help in the end. The last couple years, working at Amazon, didn't need to do that. But he can figure those things out for me - I don't do a good job of that.