tax question
Thread Starter
'People of Wal-Mart' 2010 finalist
Joined: Feb 2005
Posts: 456
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From: Oklahoma/Texas
tax question
I have talked with my boss and we are going to have a get together with his boss and the facility general manager.
The way things are shaping up, one of the two engineers here needs to expand into another field of expertise. Im willing to take some classes, the company will pay based on grade (100% for an A, 80% for a B, 60% for a C, nothing below a C). The problem I have is the college I would have to take classes at would be a 130 mile round trip. Corporate policy doesn't address this. 130 miles, 3 days per week, 16 weeks adds up to quite a few gallons of fuel.
If I read the IRS Publication 970 right, I can deduct this milage for some time throughout the year (which means the company should reimburse for the milage).
My question is, am I reading this right? If the company doesn't pay, can I file it on my personal taxes? What are the limits to this deduction? If I go 32 weeks per year for 5 years, can I get reimbursed for all of it?
I want to have my understanding so I know what I can ask for and know when they are bsing me to save a few bucks.
The way things are shaping up, one of the two engineers here needs to expand into another field of expertise. Im willing to take some classes, the company will pay based on grade (100% for an A, 80% for a B, 60% for a C, nothing below a C). The problem I have is the college I would have to take classes at would be a 130 mile round trip. Corporate policy doesn't address this. 130 miles, 3 days per week, 16 weeks adds up to quite a few gallons of fuel.
If I read the IRS Publication 970 right, I can deduct this milage for some time throughout the year (which means the company should reimburse for the milage).
My question is, am I reading this right? If the company doesn't pay, can I file it on my personal taxes? What are the limits to this deduction? If I go 32 weeks per year for 5 years, can I get reimbursed for all of it?
I want to have my understanding so I know what I can ask for and know when they are bsing me to save a few bucks.
DTR's "Cooler than ice cubes 14 miles North of North Pole" member
Joined: Oct 2006
Posts: 1,797
Likes: 9
From: 14mi North of North Pole
I don't see why you couldn't. I think that there is a place to account for milage on the 1040. At the very least it would be considered proffessional training or unreimbursed employee expenses. I know that you cand deduct those if you itemize.
Thread Starter
'People of Wal-Mart' 2010 finalist
Joined: Feb 2005
Posts: 456
Likes: 0
From: Oklahoma/Texas
These will be normal college classes, not just week long training. They have no problem paying for week long classes and such, I just want to be sure I understand what the company pays for or what I can write off before I go back to college and work full time and have to spend 6 hrs per week on the road.
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