Part 2: Unreimbursed expenses

[SarDragon]

I've asked that for years. Still no good answer.

[Eclipse]

[conjecture]

Perhaps it is to accommodate that business travel infers the loss of income while traveling, while travel for a charity would
generally be on non-billable time anyway.

[/conjecture]

[SarDragon]

I've never lost income while traveling. I usually ended up on the plus side because of the per diem.

I've asked many tax professionals over the years, and no one seems to have a good answer.

[mynetdude]

Anyway, I make way too much...

Are you adopting? I'm housebroken!

Just imagine if you made too much and never got taxed, that's what I do (legally) and no I'm not adopting housebrokens either (don't worry I'm not filing tax returns, because I can't).

[Spike]

^ Not taxed on income?  Can't file a return on income??  Unless you are receiving SSI/SSD or "old" and the pension is being paid under the table or you paid into it during the 1950-1957 era where corporate pensions paid in can not be taxed when paid out.....how??

I am intrigued?  Are you a "revolutionary no taxation" rebel waiting for federal forces to storm your compound?

I am no tax genius and I don't read many IRS publications anyway......someone fill me in   

[RRLE]

Spike,

Roth IRA are not taxed on receipt since the money was originally put in post-tax. Also the interest builds in the account tax free.

[SarDragon]

Here's a good article about itemized deductions.

[mynetdude]

^ Not taxed on income?  Can't file a return on income??  Unless you are receiving SSI/SSD or "old" and the pension is being paid under the table or you paid into it during the 1950-1957 era where corporate pensions paid in can not be taxed when paid out.....how??

I am intrigued?  Are you a "revolutionary no taxation" rebel waiting for federal forces to storm your compound?

I am no tax genius and I don't read many IRS publications anyway......someone fill me in   

Seems like I forgot to come back, I don't usually brag so I won't its a medical malpractice suit settlement.

[SarDragon]

Compensatory damages are generally not taxable. Punitive damages are. That's the word I got when I had my m/c accident, and I don't think things have changed significantly since then.

For more info, do a search for "compensatory damages" on the IRS site.

Linky.