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Christmas Eve
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 LiveWire Humor
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bornonmars75
Dairy Product Addict
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wtf?
------- "It's not a dinner without a dinner." --Christopher
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JennyColada
I'm watching you.
Patron
Support Leader
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It may be. I know of many students who deduct a portion of their gas/car expenses. Generally though, you probably won't have to keep ALL of your train tickets, but there's no harm in doing so so that you get a more accurate deduction amount (although, generally, most people do not benefit from doing an itemized deduction for their taxes [meaning, calculating and adding up all of the things they spent money on that they can take off of taxes], so the majority of people just end up using the basic deduction). When in doubt: save your receipts and simply ask your accountant if it would be useful to continue saving and calculating these deductions in the future. Better to save them and not use it as a deduction than to not save it and find out that you could have used it.
------- So when you're happy (Hurray!), or sad (Aw!), Or frightened (Eeek!), or mad (Rats!) An interjection starts a sentence right.
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8:51 pm on Nov. 11, 2008 | Joined: July 2002 | Days Active: 1,876 Join to learn more about JennyColada California, United States | Bi-curious Female | Posts: 58,716 | Points: 100,877
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( Just Waiting Here )
Dairy Product Addict
Patron
Support Leader
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Quote: from JennyColada at 8:51 pm on Nov. 11, 2008
It may be. I know of many students who deduct a portion of their gas/car expenses. Generally though, you probably won't have to keep ALL of your train tickets, but there's no harm in doing so so that you get a more accurate deduction amount (although, generally, most people do not benefit from doing an itemized deduction for their taxes [meaning, calculating and adding up all of the things they spent money on that they can take off of taxes], so the majority of people just end up using the basic deduction). When in doubt: save your receipts and simply ask your accountant if it would be useful to continue saving and calculating these deductions in the future. Better to save them and not use it as a deduction than to not save it and find out that you could have used it. 
Yeah, that's why I'm holding on to it. My train expenses are very standard, so even without receipts and the like is very clear what the amounts would be anyway. But I figure if I hold on to it, it will save some hassle in the long run :)
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JennyColada
I'm watching you.
Patron
Support Leader
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Sounds like a good plan. I saved all of my gas receipts (from filling up my tank to drive to work or school), but ended up not needing them anyway. I mean, it's good to have, especially if you get audited.
------- So when you're happy (Hurray!), or sad (Aw!), Or frightened (Eeek!), or mad (Rats!) An interjection starts a sentence right.
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9:27 am on Nov. 12, 2008 | Joined: July 2002 | Days Active: 1,876 Join to learn more about JennyColada California, United States | Bi-curious Female | Posts: 58,716 | Points: 100,877
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