Hi all, Hi olivies,
To clarify Tom, you mean we can get the actual expense (oil, gas, repairs, etc.) on the schedule but not the means test- that's a standard amount?
You can use actual expenses on the means-test but unless they are higher than standard (and you need the higher expenses to pass) most folks just use the IRS standards, they are much easier paperwork-wise.
How about forward looking expenses- like if you know you'll need a new timing belt in the next month, tires within the next year, etc. Goes on Schedule J, use your best estimate...unless your trustee is a real stickler, then get a local mechanic to give you an estimate.
Got the right guy down the street, take the car in for one thing and he gives you a list of 50 other things wrong w/ your car...but his motives are suspect, he tries to sell you on making more repairs...
Tom in Colo
To clarify Tom, you mean we can get the actual expense (oil, gas, repairs, etc.) on the schedule but not the means test- that's a standard amount?
You can use actual expenses on the means-test but unless they are higher than standard (and you need the higher expenses to pass) most folks just use the IRS standards, they are much easier paperwork-wise.
How about forward looking expenses- like if you know you'll need a new timing belt in the next month, tires within the next year, etc. Goes on Schedule J, use your best estimate...unless your trustee is a real stickler, then get a local mechanic to give you an estimate.
Got the right guy down the street, take the car in for one thing and he gives you a list of 50 other things wrong w/ your car...but his motives are suspect, he tries to sell you on making more repairs...
Tom in Colo
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