Business

Getting Double 1099s

January 25, 2012

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Today TaxMama® hears from Stephanie in the Tax Quips Forum with a very valid concern. “I’m concerned about this requirement that PayPal report my sales numbers via the 1099-K. The clients I work with will also have to send me a 1099-MISC. Won’t that be income that is double reported? Usually I just enter my [...]

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Buying a Business

November 17, 2011

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  Today TaxMama hears from Josh in the TaxQuips Forum who is concerned. “I’m interested in purchasing a business which was owned by a sole proprietor. He owes back taxes. Would I be liable for those back taxes if I purchase this business?”

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It’s a WAHM Thing!

November 15, 2011

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Way back in the beginning, when the commercial Internet opened up, working mothers found that it was a great place to interact and share information. A variety of sites sprang up, help out, and fizzled out. Some survived.   Today, let me introduce you to the launch of a Work at Home Mom site that will [...]

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Spouse as Employee

November 1, 2011

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Today TaxMama hears from Russel in the TaxQuips Forum who wants clarification. “At the end of the show on KFWB 980 today (10/31) Bob McCormick asked you a question regarding small businesses employing spouses.  I missed the answer.  If a spouse is employed by a sole proprietorship do you have to carry workman’s comp insurance? [...]

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Network Marketing

October 20, 2011

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  Today TaxMama hears from Carrie in the Tax Quips Forum, with a common question. “I am reading through your new edition of Small Business Taxes Made Easy and want to clarify. Should I treat my new network marketing business as a sole proprietorship business?”  

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IRS Announces New Voluntary Worker Classification Settlement Program

September 23, 2011

[Note: Stay tuned to TaxMama's TaxWatch column in MarketWatch.com next week, for an anlysis of this program before you participate in it.] Past Payroll Tax Relief Provided to Employers  Who Reclassify Their Workers as Employees WASHINGTON – The Internal Revenue Service today launched a new program that will enable many employers to resolve past worker classification [...]

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Outreach to Small Businesses and Practitioners About the Small Business Health Care Tax Credit

September 9, 2011

As Tax Filing Extension Deadlines Near, IRS and HHS Announce New Round of Outreach to Small Businesses and Practitioners About the Small Business Health Care Tax Credit Video: Small Business Health Care Tax Credit-Updated English | Spanish | ASL WASHINGTON — As the upcoming filing extension tax deadlines approach, the Internal Revenue Service, in partnership with the [...]

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Landlord Costs

August 10, 2011

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  Today TaxMama hears from Eric in the TaxQuips Forum, who is a new landlord. “During periods of vacancy (in between tenants), are mortgage and utility bills tax deductible at all? Also are the costs of replacement furnace filters and pest control items, etc. purchased and used by me (the landlord) deductible as operating expenses?”  

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