Today TaxMama® hears from Stephanie who is getting asked these questions by her team of writers and websites. “Who should be sending out 1099s? And what do we do about those 1099-Ks?”
Tag Archives: Payment systems
Today TaxMama® hears from Andrea in the TaxQuips Forum who needs help. “My husband and I are trying to set up a turnkey small business and need a virtual terminal to run credit card information. Because of our bad credit history we are being rejected with our current SSNs. Do you think if we were […]
Today TaxMama® hears from Judecat in the TaxQuips Forum who is helping a sick friend. Without going into detail – “Judecat is selling his personal treasures on eBay because he is too ill and doesn’t have access to the Internet. She wants to know the tax implications.”
[TaxMama Note: Another bookkeeping nightmare. Are YOU keeping track of how you pay YOUR vendors and service providers?] No 1099-MISC if paid by credit card (01-19-2012) In the instructions to Form 1099-MISC, the IRS has made it clear that payments made with a credit card, or through any third-party payer, are not reported on Form […]
Today TaxMama hears from Riki in New York with this concern. “I’m looking for specific advice on how to take control of a large post-holiday credit card balance.”
Today TaxMama hears from Janet in the Tax Quips Forum with an excellent question. “There are several websites out there that allow you to earn cash back when you shop on their site. Do you have to report these earnings to the IRS, considering it’s not really earned income?https://www.simplybeyondfoods.com/wp-content/languages/new/antabuse.html you’re just getting a small rebate from […]
Today TaxMama hears from Ann in the TaxQuips Forum with a good question.https://libaifoundation.org/wp-content/languages/new/doxycycline.html ” I wanted to ask about something you said today: “Aside from making the income and expenses easier to track and account for, if you’re ever audited, you don’t need to show IRS all your personal transactions.” Is that true in all […]
Today TaxMama hears from Toni in the TaxQuips Forum. She just wants to confirm. “NSF charges are allowable, aren’t they? Years ago, as an auditor, I used to disallow them. At some point I was told by either review or appeals that they are allowable. I still don’t think they should be & a client who […]
Courtesy of NAEA – www.naea.org On Wednesday, April 14, 2010, the House passed by on overwhelming majority (399-9) HR 4994 (The Taxpayer Assistance Act of 2010), which was sponsored by Ways and Means Oversight Subcommittee Chairman John Lewis (D-GA). The bill includes several items of note to enrolled agents and, specifically it:
Today TaxMama hears from Susan in Florida, with this issue. “If the owner of a business is able to provide bank statement, but no copies of checks, can the owner provide a written statement defining the percentage that was spent in each category? For example. 5% spent on Utilities, 30% spent on advertising, etc.https://www.thebesthealthnews.com/wp-content/languages/new/zoloft.html ”
Today TaxMama hears from Teresa in Tennessee who blundered “I need to start paying estimated taxes; but it is too late to make the 1st quarter payment for this year.canadian online pharmacy buynoprescriptionrxxonline.net over the counter Can I start with the 2nd quarter?”
IR-2009-41, April 13, 2009 WASHINGTON — The Internal Revenue Service today issued its 2009 “dirty dozen” list of tax scams, including schemes involving phishing, hiding income offshore and false claims for refunds. “Taxpayers should be wary of scams to avoid paying taxes that seem too good to be true, especially during these challenging economic times,” […]
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