income

[bjmyrnajourney 1]

is the income gross before taxes

[pushbrk 12,890]

is the income gross before taxes

.

Yes

[Daniel&Theary 30]

Gross is before anything is removed from check

Net is after all deductions

[Trey7Sarah 0]

What if you write off work expenses on your taxes? Do they look at the gross income or the net income after write offs? Thanks.

[googled 13]

is the income gross before taxes

My income is pretty gross after taxes.

[pushbrk 12,890]

What if you write off work expenses on your taxes? Do they look at the gross income or the net income after write offs? Thanks.

Gross income on your tax return will be found on line 22. If you are an employee claiming employee business expenses, that won't impact line 22. If self employed all your business expenses are subtracted above line 22. Employees state their current income as the gross pay.

[Trey7Sarah 0]

Gross income on your tax return will be found on line 22. If you are an employee claiming employee business expenses, that won't impact line 22. If self employed all your business expenses are subtracted above line 22. Employees state their current income as the gross pay.

So what you are saying is that they won't be looking at the net income after write offs but the gross yearly income? 'Sigh of relief ' I think.... Thank you.

[pushbrk 12,890]

So what you are saying is that they won't be looking at the net income after write offs but the gross yearly income? 'Sigh of relief ' I think.... Thank you.

I thought what I said was quite clear. If you read the "ifs" and you are an employee claiming employee business expenses, then you have interpreted what I said correctly. If you are in business for yourself and file a schedule C, then you have misinterpreted what I wrote. Are you an "employee" or self employed?

[Trey7Sarah 0]

I thought what I said was quite clear. If you read the "ifs" and you are an employee claiming employee business expenses, then you have interpreted what I said correctly. If you are in business for yourself and file a schedule C, then you have misinterpreted what I wrote. Are you an "employee" or self employed?

I am a W-2 employee making commissions. Thanks for your input.

[pushbrk 12,890]

I am a W-2 employee making commissions. Thanks for your input.

No worries. Gross income is the ticket. The issue with commission only is that you can only estimate your current earnings rather than stating an annual salary or multiplying your hourly pay like other folks do. I recommend stating income at approximately what shows on line 22 of your most recent tax return. 2010 income and current income are not the same thing but in your case I think it's the best way to estimate it. I was in the exact situation some years ago when going through the process.

Another option would be to take your January through March income and multiply by 4. That way you could provide a YTD pay stub as documentation.

Edited March 30, 2011 by pushbrk