Today TaxMama® hears from Sue in the Tax Quips Forum with this issue.https://theoryofknowledge.net/wp-content/languages/new/writing-services.html “My parents are both unemployed and lived with me all year. My dad did receive unemployment, but it was about $3,300 for the entire year – my mom did not receive any unemployment. My younger sisters also lived with me – they […]
Tag Archives: Business
Today TaxMama® hears from Tax455 in the TaxQuips Forum with this question. “If I earned k through eBay buying and selling phones, and k was profit, should I get a business license or incorporate for tax purposes?buy xenical online www.adentalcare.com/wp-content/themes/medicare/fonts/engl/xenical.html no prescription I did not hit the 200 transactions so I’m not sure if eBay […]
Today TaxMama® hears from BlueSage in the TaxQuips Forum with this question. “Is it better to declare 20 children and then store the tax one would pay in an investment account, and use that money to pay taxes at year end? Or is it better to declare the right amount of children, pay as you […]
Today TaxMama® hears from Shar in the TaxQuips Forum, with this observation. “If you start an LLC and elect to have it be taxed as a C-Corp, does this election require you to follow all the ongoing requirements of your state for maintaining a C-Corp (corporate minutes, complete set of books, etc.)? Or can you […]
Today TaxMama® hears from Mike in the TaxQuips Forum, who asks a logical question. “I sell collectible cards in NC. I collect sales tax on new product (such as a new pack of 15 cards). The question is, if I buy a single card from someone who just bought that pack of 15 new cards […]
NOTE: All regulations re:RTRPs have been suspended – these rules no longer apply.buy generic neurontin online blackmenheal.org/wp-content/languages/new/buygeneric/neurontin.html no prescription The IRS established new regulations for tax professionals recently. After nearly 100 years without any form of tax preparer licensing or overview, it’s time for tax preparers to exhibit that they have a fundamental understanding of […]
Today TaxMama® hears from Monica in the TaxQuips Forum, who needs to make a decision. “My tax status is single, no dependents. I plan to undergo $10,000 out-of-pocket medical procedure. Please consider these scenarios. If done in 2012 with an adjusted gross income (AGI) of approximately $50,000, $10,000 will be paid after-tax. If done in […]
Today TaxMama® hears from John with this naïve question. “I have been mulling about this idea for a long time. I want to start a tax prep and services business. I have been doing returns for friends and associates for the past 2 years and want to incorporate. What is my first step? And then […]
Courtesy of the Internal Revenue Service The Internal Revenue Service is issuing a warning about a new tax scam that uses a website that mimics the IRS e-Services online registration page. The actual IRS e-Services page offers web-based products for tax preparers, not the general public. The phony web page looks almost identical to the […]
Today TaxMama® hears from Rando with a question that has become more and more common in today’s economy. “What is the maximum income my son can earn, who lived with us all year, and still be declared as a dependent on my tax return?”
Today TaxMama® hears from Mark in the TaxQuips Forum, who is bewildered. Let me summarize. “Mark received a post-doctoral fellowship that covered his salary to do research. It came with insurance and other employee benefits. The income was reported to him on a 1099-MISC. He paid taxes on the income. Two years later, the IRS […]