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mstaussig
New Member

When filling out small business expenses, why does my tax liability increase when I enter my office expenses?

 
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When filling out small business expenses, why does my tax liability increase when I enter my office expenses?

It is likely because of the way EIC is calculated (on a bell curve).  However, you are required to claim all of your expenses.

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6 Replies

When filling out small business expenses, why does my tax liability increase when I enter my office expenses?

It is likely because of the way EIC is calculated (on a bell curve).  However, you are required to claim all of your expenses.

mstaussig
New Member

When filling out small business expenses, why does my tax liability increase when I enter my office expenses?

Thanks Sweetie Jean!  What I discovered is that the running total on the top had changed from negative to positive.  I felt stupid about it but it was good news!

When filling out small business expenses, why does my tax liability increase when I enter my office expenses?

What did you do to fix this ?
mstaussig
New Member

When filling out small business expenses, why does my tax liability increase when I enter my office expenses?

I realized that the tax tracker on the top of the page had changed from negative to positive - my tax return was increasing rather than my liability increasing.  Silly mistake that scared me for a while.

When filling out small business expenses, why does my tax liability increase when I enter my office expenses?

I have the same problem with rental property expense. Please advise.

mstaussig
New Member

When filling out small business expenses, why does my tax liability increase when I enter my office expenses?

I discovered my running total on the top had changed from negative to positive, that was good news!
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