The Official-ish DC Thread

[lordsuperb]

Backup. Can we legally take depreciation on clothing?

If I go to a restaurant with a buddy of mine, and he forgets his wallet so Venmo’s me. Am I legally supposed to report that as income?

Anything over $600

 

[Ambulance Chaser]

the pizza? Pizza Mart in Adams Morgan.

It was delicious, but yuuuuge.

I hope you were not sober. Jumbo Slice’s main purpose is to soak up the booze in your body . . .

 

[Purplelabel]

I hope you were not sober. Jumbo Slice’s main purpose is to soak up the booze in your body . . .

Far from it. Shenanigans helped with that..]

 

[jonathanS]

Anything over $600

Aggregate or individual transactions?

On a side note: I think eBay makes you pay taxes on anything - Atleast it looks like that

 

[JohnMRobie]

Backup. Can we legally take depreciation on clothing?

If I go to a restaurant with a buddy of mine, and he forgets his wallet so Venmo’s me. Am I legally supposed to report that as income?

Theoretically venmo and the other apps are trying to find ways to differentiate between business transactions and peer to peer transactions but it’s a giant mess. On venmo they added a feature where the sender declares whether it’s peer to peer or business/goods/services in which case they get purchase protection and the recipient pays a fee.

There’s fairly solid bipartisan agreement that the $600/year total threshold is too low to be workable and in need of a fix but plenty of disagreement over what the fix should be because congress gonna congress.

 

[Purplelabel]

Theoretically venmo and the other apps are trying to find ways to differentiate between business transactions and peer to peer transactions but it’s a giant mess. On venmo they added a feature where the sender declares whether it’s peer to peer or business/goods/services in which case they get purchase protection and the recipient pays a fee.

There’s fairly solid bipartisan agreement that the $600/year total threshold is too low to be workable and in need of a fix but plenty of disagreement over what the fix should be because congress gonna congress.

I guess that is similar to PayPal with the 'goods and services' and 'paying family' options?

 

[gimpwiz]

Paypal owns venmo, so yeah.

 

[scurvyfreedman]

Paypal owns venmo, so yeah.

And eBay owns PayPal, so...

 

[gimpwiz]

Not anymore! They spun off in 2015. I hate to say it but that's a few years ago now...

 

[Texasmade]

Backup. Can we legally take depreciation on clothing?

If I go to a restaurant with a buddy of mine, and he forgets his wallet so Venmo’s me. Am I legally supposed to report that as income?

No not really. I think uniforms can be expensed though.

On the Venmo question, no that's not income. That's basically a loan repayment.

 

[hpreston]

Backup. Can we legally take depreciation on clothing?

If I go to a restaurant with a buddy of mine, and he forgets his wallet so Venmo’s me. Am I legally supposed to report that as income?

1) No, not unless it’s a uniform required by your employer.


Determining if work tools and uniforms as well as works clothes are tax deductible depends on a couple of factors.

• In regard to uniforms, you can deduct the cost of the uniforms and their upkeep (dry cleaning) if both of the following apply:
• Your job requires that you wear special clothing such as a uniform.
• The clothes are not suitable for everyday wear. For example, a uniform with a company logo isn’t suitable for everyday wear, so it would qualify as a deduction.

2) also no.

 

[scurvyfreedman]

Not anymore! They spun off in 2015. I hate to say it but that's a few years ago now...

I am stuck in the past. I guess I assumed they were still the owners considering the exclusive payment option (at least as far as I know).

 

[grio1212]

OOTD

 

[Purplelabel]

Can someone give me some recommendations for a really intimate and 'vibey' bar in Georgetown? Not too far from Clyde's as we'll be walking.

 

[Kangnamstyles]

Impromptu coffee shop meeting today with an old friend.