You searched for:

H&R Block Radio Show – Tax Tips for Individuals

March 29, 2010

Listen here  -  Tax Tips for Individuals                         Read the script of the show below:
PROGRAM 1: Tax Tips for Individuals
Originally aired:   Thursday, March 25    10:00 a.m. – 11:00 a.m. EDT
Introduction – Tax Mama

Welcome and Introductions

o        Thanks for joining
§                    Introduce hosts:
§                    Chris Wilson, Master Tax Advisor
o        Wilson has been a master tax advisor with H&R [...]

Read the full article →

Ask TaxMama Issue 542 – Poor Poor Purim

February 26, 2010

Dear  ,
Let’s start with a quick reminder – if you want to take a deduction for contributions to Haiti on your 2009 tax return, you must make your contribution by February 28th.
Speaking of February 28th, that is also the last day to take the 2009 EA Exam. Those of you planning to sit for the exam…get [...]

Read the full article →

Solo 401k Contribution

February 16, 2010

Today TaxMama hears from Dabeler in the TaxQuips Forum, with this question. “2009 is my first year as a sole proprietor.  I set up a solo 401K in Dec 2009.  I made $185,000 on my 1099.  Can I put in the full $54,500 for 2009?  I am over 50.”

Read the full article →

Ask TaxMama Issue 540 – A Long Weekend

February 12, 2010

Dear Family,
This week went by so quickly, I didn’t even have time to blink. Perhaps not so for some people. Working on an article, I called the IRS DC press office one morning, only to get the answering service message that the office was closed. So contacted a couple of those cool guys by email. [...]

Read the full article →

Record Keeping for Business Barter Transactions

December 11, 2009

Courtesy of IRS
In today’s economy, small-business owners sometimes look to the oldest form of commerce — the exchange of goods and services, or bartering. The Internal Revenue Service wants to remind small-business owners that bartering transactions generally have associated tax reporting, accounting and record-keeping responsibilities.
Bartering is the trading of one product or service for another. [...]

Read the full article →

Contractors Forgot to File

December 3, 2009

Today TaxMama hears from Ray in Ohio, who has a problem. “My son and I started working for a contractor in Feb 2006 as a sub. The 1099 was in his name and SS#. We worked on a 60-40 split. The 60 came to me, with all expenses paid out of my pocket. We have [...]

Read the full article →

For Many Small Businesses, Fall Filing Deadline Looms for Special Refund Claims

August 14, 2009

WASHINGTON — Time is running out for many small businesses wishing to take advantage of the expanded business loss carryback option included in this year’s recovery law, the Internal Revenue Service said today. Eligible individuals have until Oct. 15 to choose this expanded carryback option. Eligible calendar-year corporations have until Sept. 15.
This carryback provision offers [...]

Read the full article →

Avoiding Incorrect Self-Employed Retirement Deductions

November 7, 2008

FS-2008-24, July 2008
Retirement plans are not just for big businesses. They are also available for sole proprietorships. If you are self-employed small business owner, you can set up a qualified retirement plan for yourself and your employees.
If you are a sole proprietor, you can deduct contributions you make to the plan for yourself. You can [...]

Read the full article →

Sole Proprietor

June 10, 2008

Today TaxMama hears from Kathy in Florida who tells us. “My husband currently works “under the table”. We declare his total income and are subsequently hit every year with owed taxes. Would it behoove us to make him a sole proprietor of his own yacht cleaning business? Would we be saving on taxes, [...]

Read the full article →