Conference tax deductible?

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Midway
Posts: 252
Joined: Tue Feb 28, 2012 6:09 pm

Conference tax deductible?

Post by Midway »

If a bunch of us got together to discuss our investment strategies, say halfway between Aitrus and Mjedlin66, would our expenses be tax deductible?

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evilanne
Posts: 2067
Joined: Thu May 14, 2015 6:52 pm

Re: Conference tax deductible?

Post by evilanne »

Probably not. For those that itemize, Line 23 for other expenses is the only potential area that those expenses might fall, however, any deduction is only to amounts >2% of your AGI. I believe these miscellaneous deductions will be going away entirely with the changes in the tax laws.

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misfit
Posts: 257
Joined: Fri Apr 13, 2018 9:21 am

Re: Conference tax deductible?

Post by misfit »

Evilanne you are correct. No more itemizing deductions with the new tax reform.

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fattony
Posts: 21
Joined: Wed Sep 01, 2010 7:32 pm

Re: Conference tax deductible?

Post by fattony »

Very interesting. Anyone know how the new taxes effect the tax credits for electric cars? I was thinking about getting the new Honda Clarity plugin hybrid for my wife. EPA lists it as having a $7500 tax credit but when I asked the dealer about that he said I'd have to contact a tax expert to see how it would really work out. Wish I could download turbo tax for tax year 2018 now and run some scenarios but it isn't available yet...

alirahat
Posts: 3
Joined: Mon Sep 16, 2013 12:28 pm

Re: Conference tax deductible?

Post by alirahat »

If you have bought TurboTax in the past, I would give TurboTax experts a call to get that info.

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fattony
Posts: 21
Joined: Wed Sep 01, 2010 7:32 pm

Re: Conference tax deductible?

Post by fattony »

Good idea. Thanks.

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evilanne
Posts: 2067
Joined: Thu May 14, 2015 6:52 pm

Re: Conference tax deductible?

Post by evilanne »

I think a lot of those credits have been phased out but your state may also have some kind of incentives but you really need to research or find someone that knows that type of info

I'm sure if it was in effect, the car dealers would be able to direct you to where to look.


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