Courtesy of IRS – FS-2008-20, April 2008 WASHINGTON—Internal Revenue Service research indicates that understated business income contributes significantly to the tax gap, with the majority understated by small businesses. To assist small business and self-employed taxpayers better understand their reporting obligations, this fact sheet addresses the issue of income and how to determine gross income. […]
Category Archives: Business Taxes
Interestingly enough, this information came from an Internet information newsletter, not a tax newsletter. In brief: NY State hit Amazon.com for sales taxes even though Amazon does not have a physical location in the state. Amazon is suing, claiming the New York law is unconstitutional based on a 1992 U.S. Supreme Court ruling that claims […]
Today TaxMama hears from Jim in Los Angeles, who tells us. “I run a trucking business. This will be my first year hiring contractor drivers so I want to know, at the end of the year when I give them a 1099 am I supposed to send one to the IRS with my corporate tax […]
Today TaxMama hears from Brian in Connecticut, who says.buy uk finasteride online www.mabvi.org/wp-content/languages/new/uk/finasteride.html no prescription “I did some work for a guy in 2007.https://www.cinewebradio.com/wp-content/languages/new/custom-writing-services.html He paid me with business checks totaling $6,100.00 with no deductions. He refuses to give me a 1099. What should I do?”
Today TaxMama hears from Lisa in California who tells us. “I am a Creative Memories Consultant, which is an independent consultant home sales business. This past year I barely sold anything, and ran my ‘’business’’ as more of a hobby than a business. Do I still need to claim it on my taxes? I haven’t […]
Today TaxMama hears from Sam in Texas who asks. “A construction company pays sales tax when it purchases items from places like Home Depot.buy furosemide online healthcoachmichelle.com/wp-content/languages/new/online/furosemide.html no prescription Everything it buys is used in customer’s homes, like carpets that are installed and then billed to the customer.buy wellbutrin Canada https://langleyrx.com/wellbutrin.html no prescription Does this […]
Courtesy of the Internal Revenue Service WASHINGTON — Today the Internal Revenue Service announced the 2008 inflation adjustments to the excise taxes on air transportation. Excise taxes apply to the domestic segments of taxable air transportation and to the use of international air facilities. The Consolidated Appropriations Act, 2008, signed into law on Dec. 26, […]
Today TaxMama hears from Dawn in Hawaii who is upset: “I bought a concrete boom pump in 2006 for 5,000 in Canada.https://kidneyurostonecentre.com/wp-content/languages/new/wellbutrin.html I just received a letter from the IRS stating that I owe $35,400 for a Federal excise tax. I have not been told by the seller or anyone else about this. When I […]
Today TaxMama hears from Michelle in Pennsylvania, who has this dilemma, “My husband was working and receiving $300 a week for 7 weeks. He was paid with a personal check. Do we claim that? Because his boss will not be claiming him, I was not sure.https://www.epsa-online.org/wp-content/languages/new/singulair.html Some people told me no; some people told me […]
Today we hear from Robin in Tennessee who has lots of questions. “I am a published author and would like to sell some of my books myself.https://www.richereducation.co.uk/wp-content/languages/new/type-a-paper-online.html How do I report this income to the IRS? Does the IRS consider this selling as a small business? And if so, will I need an employer identification […]
Today we hear from a doctor’s wife, with a common problem, (note: I can’t find the original question, so I hope you read this reply.) “We have a couple of doctors who use my husband’s physician number to bill insurance companies and Medicare for services. When we receive the money, we pay it over to […]
Today we hear from Cliff in New York who is irked. “I believe it’s usual that, in addition to payment for time, designers charge 25% commission on supplied items such as furniture. A designer I approached is suggesting a contract that includes 25% commission also on the sales tax on these items.buy canada prednisone online […]