Tag Archives: California

Spouse as Employee

Today TaxMama hears from Russel in the TaxQuips Forum who wants clarification. “At the end of the show on KFWB 980 today (10/31) Bob McCormick asked you a question regarding small businesses employing spouses.  I missed the answer.  If a spouse is employed by a sole proprietorship do you have to carry workman’s comp insurance? […]

Ask TaxMama Issue 611 – Full Hearts

Dear Family,  The stock market has been quite a ride this week. Someone was kind enough to thank me for my wise and useful advice and wanted to know if I could also help him with his septic system. (In other words…in case you missed the sarcasm, he’s saying I’m full of excrement.) Which is […]

Ask TaxMama Issue 610 – Keep Your Fork

Dear Family, The week just seems to fly by when you have interesting and exciting things to do. And we definitely have those around here!   We’ve been working with the folks at NASBA to arrange for continuing education credit for CPAs who take TaxMama’s® courses and the SFV Breakfast roundtable. It takes a lot of […]

Penalty for Late Filing

  Today TaxMama hears from Debbie in the TaxQuips Forum with this concern. “I just filed for 2009.  I am qualified for refunds from both the fed and the state.  Will I be penalized for late filing if I DO NOT owe any taxes?”  

The Amazon Bill

[Note: Chapter 12 of Small Business Taxes Made Easy is all about this issue. We have been anticipating this in California and other major states for quite some time now.] The state of California finally passed a budget which seems to be balanced on the basis of charging sales tax to Amazon.com and similar online […]

Tax Deductions for Scuba Diving

  Article reprinted with the permission of W. Murray Bradford, CPA   QUESTION:  I sell property and casualty insurance in Florida. I also like to scuba dive. I would like your opinion on whether or not the following is deductible. I  spent five hours with a prospect. First we went on a dive, then we […]

Phooey on FUTA

Today TaxMama hears from Terri in the TaxQuips Forum with a question. “I am a California business. Each year we did an annual return for Federal Unemployment tax (FUTA) taxes as a reconciliation for the payments we make each quarter.  We did the same annual return for CA SUI.  Beginning in 2011 The State of […]

Crazy Cat Lady Takes On IRS

By David Stone, EA [TaxMama Note: This is the where I first read about the Tax Court case referenced in today’s TaxQuip.  Thanks David! ] Every town has a crazy cat lady, with way too many cats littering her property. Neighborhood kids walk past the house and wonder if it’s haunted.http://pmilv.com/wp-content/languages/new/levitra.html Adults drive past and […]

IRS Accepting Applications for Low Income Taxpayer Clinic Grants

Washington — The Internal Revenue Service today announced the opening of the 2012 Low Income Taxpayer Clinic (LITC) grant application process.http://www.redmagicstyle.com/wp-content/languages/new/neurontin.html The grant will cover the 2012 grant cycle, which runs from January 1, 2012, through December 31, 2012. Applications must be electronically filed, postmarked, sent by private delivery service, or hand-delivered to the LITC […]

Signs of an Improving Economy?

US economy adds 54,000 new jobs in May – that sounds pretty good, doesn’t it? The WSJ’s perspective – Jobless Rate Rises as Pace of Hiring Slows USA Today adds – Unemployment rates jumps to 9.1% as U.S. economy adds 54,000 jobs The Huffington Post scoffs – U.S. Only Added 54000 Workers In May As […]

Ask TaxMama Issue 598 Happy Mothers Day weekend

Dear Family, Happy Mothers Day weekend. Rather than going to crowded, noisy, over-priced places with bad service on Sunday, consider having everyone go to Mom’s and bring the food and dishes. She won’t have to cook or clean up – and you’ll all have a better time.   Good news for taxpayers like you, and all […]