Today TaxMama hears from Mark in Illinois, with this problem. “Taxpayer has claimed the home office deduction for a couple of years. There is a build up of carryover expenses. During 2008 taxpayer quit doing business from his home. Taxpayer continued in the same line of business for the remainder of the year from a […]
Tag Archives: Business/Finance
WASHINGTON — The Internal Revenue Service is encouraging business taxpayers, associations and other interested parties to submit to the Industry Issue Resolution (IIR) Program tax issues for resolution that involve a controversy, dispute or an unnecessary burden on business taxpayers. The objective of the IIR program is to resolve through issuance of new and improved […]
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.buy tadalafil online https://apwh.org/wp-content/languages/new/tadalafil.html no prescription 15 to choose this expanded carryback option.buy aciphex online https://apwh.org/wp-content/languages/new/aciphex.html no prescription […]
Courtesy of the SBA If your small business is stressed meeting expenses during these tough economic times, the U.S. Small Business Administration has a new loan program that may help. SBA’s America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief for viable small businesses facing immediate financial hardship to help ride […]
Today TaxMama hears from Tomika in North Carolina who wants to know. “Can a for profit company receive a tax deduction for donating a website to a school? The only in-kind contributions I found were listed as a disclaimer on the non profit books.https://www.grapplearts.com/wp-content/languages/new/college-paper-writing-services.html Would the website be considered as a non deductible donation for […]
Today TaxMama hears from Joanna in California with this problem. “ I’m assisting an S-Corp in California that has not filed employment taxes in over 2 years and has accumulated several thousands in back taxes. Once I complete all of their employment tax forms, what is the best course of action to take to set […]
Today TaxMama reads about the Cash for Clunkers fallout. It’s so popular that all the money ran out in the blink of an eye – and Congress had to quickly appropriate new money. So, if you want your $3500 or $4500 rebate – get it fast! It seems that the salvage yards are concerned because […]
Courtesy of Spidell Publishing Inc. www.caltax.com The 2009–10 budget revision does not contain any new taxes, but includes tax accelerations that bring money in earlier, so we will likely revisit the fiscal crisis later. Here are the tax changes contained in ABX4 17 and ABX4 18. Estimated tax payments: Requires individual and corporate estimated tax […]
Courtesy of the Internal Revenue Service WASHINGTON — The Internal Revenue Service today announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme. On Thursday July 23, 2009, a Jacksonville, Fla.-tax preparer, James Otto Price III, pled guilty to falsely claiming the […]
SOCIALISM You have 2 cows. You give one to your neighbor. COMMUNISM You have 2 cows. The State takes both and gives you some milk. FASCISM You have 2 cows. The State takes both and sells you some milk. NAZISM You have 2 cows. The State takes both and shoots you. BUREAUCRATISM You have 2 […]
Today TaxMama hears from Toni in Colorado with this problem. “We filed for bankruptcy after a foreclosure and two years of hard struggle. My husband had $48,000 in taxes for 2005. Is there a way to file ‘’tax bankruptcy’’ this far out? Our bankruptcy was discharged March 12, 2008. I’m working, my husband is not, […]
Today TaxMama hears from Richard in Oklahoma with this issue. “I sold some shares in a stock in January.buy xifaxan online https://www.conci.com/wp-content/languages/new/xifaxan.html no prescription Now I wish to change the lot designation of the shares sold, selecting shares (of the same stock) with a different cost basis and original purchase date.buy propecia online https://www.conci.com/wp-content/languages/new/propecia.html no […]