Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-01-2016, 08:38 PM
Junior Member
 
Join Date: Mar 2016
Posts: 1
How to write off lost wages

I have a sole prop where I do 'consulting'. In this I offer free consultations and reviews of work where I'd like to write this off as a 'lost wage'.

My previous CPA did this for his tax business for free reviews he did for his clients.

How do I apply this to myself? Where/what is it written off as?

Thanks!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-01-2016, 11:09 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
How do I apply this to myself? Where/what is it written off as?========I do not think you can write off your lost wage for free consultations; basically, writing off lost wage is In order to prove lost wages, you will first need to gather all the appropriate documentation to support your claim. You will need: a letter from your employer indicating how much time you took off, what your hourly rate of pay or your monthly salary is, how many hours a week you work, and whether or not you typically work overtime.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
transfering stock with a lost nottelybill Homeowner Tax 3 02-08-2015 10:54 AM
lost w-2 form windowtime Filing Requirements 4 01-23-2015 11:57 AM
Lost NJ return check from 2007 rayzat Income 1 12-29-2012 08:04 PM
lost earnings cwojo2011 Income 1 02-18-2011 04:11 AM
rollover ira lost value egmacrae IRA/Sep 1 01-04-2009 05:15 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.