Tag Archives: Employment

Interns and Unemployment

Today TaxMama hears from John in the TaxQuips Forum, who wants to employ students.“ The business I work for is very small.https://pinnacle.berea.edu/wp-content/languages/new/dissertation-abstracts-online.html It is a nonprofit educational facility, and we are swamped with work, without financial leverage to hire additional staff.  I want to recommend the hiring of interns at a fair hourly wage.  I am […]

Important Tax Law Changes for 2010

Courtesy of IRS Taxpayers should make sure they are aware of many important changes to the tax law before they complete their 2010 federal income tax return. Here are several important changes that the IRS wants you to keep in mind when you file your 2010 federal income tax return in 2011. Health Insurance Deduction […]

5th Wheel

Today TaxMama hears from Brad in Jacksonville, NC  , who says, “I’ve been considering purchasing a (self-contained) motorhome/fifth wheel RV for use as lodging/office to use on my business travels. Can I write it off?”

Fostering Unemployment

Today TaxMama hears from Lisa in Virginia. She tells us, “I have spent the last 4 years as 1099 contracted foster care provider. The contract was a signed contract renewed every six months; the current contract expires 6-30-10. Our live-in individual (client) moves out 5-2-10. His parents are moving him to an adult group home. […]

Unemployment Strategy

Today TaxMama wants to discuss unemployment issues.http://www.ijasrjournal.org/wp-content/languages/new/proofread-online.html Too often I learn during tax season, that a client didn’t work and didn’t collect unemployment insurance, or other compensation to which they were entitled. This especially true of folks who are not comfortable with English. Since we’re heading for a season when many people’s jobs may end…

IRA on Rental Income

Today TaxMama hears from Bill in the TaxQuips Forum with a common misconception. “I have a W-2 through my employer and contribute to their 401k plan. I also have $30,000 net rental income from Schedule E as a sole proprietorship. Can I contribute to a SEP or any other type of retirement plan to shelter […]

COBRA Assistance Repayment

Today TaxMama hears from Dan in Massachusetts with this question. “The new COBRA premium assistance is phased out if the employee’s AGI is greater then $145K. It must be paid back when the employee files their taxes. How does the employee know what the premium assistance was?”

IRS Approves New Per Diem Rates Effective October 1 2009

Courtesy of David and Mary Mellem, EAs IRS has approved new per diem amounts for meals and lodging effective October 1, 2009. These are the same rates which the Federal government uses to reimburse Federal government employees and that we referred to in an email sent out on September 10, 2009. Here are some of […]

Employee vs. Independent Contractor – Ten Tips for Business Owners

If you are a small business owner, whether you hire people as independent contractors or as employees will impact how much taxes you pay and the amount of taxes you withhold from their paychecks. Additionally, it will affect how much additional cost your business must bear, what documents and information they must provide to you, […]

Part-Time or Seasonal Workers

Courtesy of the Internal Revenue Service June 04, 2009 For many businesses, summer traditionally brings an influx of part time or seasonal workers into the work force. Employers must ensure they are treating these workers properly for employment tax purposes. Generally, workers are either employees or independent contractors, based upon the facts and circumstances of […]

Independent Contractor Option

Today TaxMama hears from Dianne in California with this question. “I am a contracted bookkeeper for a non-profit group in CA.https://www.richereducation.co.uk/wp-content/languages/new/cheap-essay-writer.html One of my contractors has accepted employment with the same organization in a position that is typically paid through payroll, but wants to continue to be paid using the 1099 method. Is this going […]

Tax Credits for Hiring Unemployed Veterans and Certain Youth

IR-2009-55, May 28, 2009 WASHINGTON — Businesses planning to claim the newly-expanded work opportunity tax credit (WOTC) for eligible unemployed veterans and unskilled younger workers hired during the first part of 2009 have until Aug. 17 to request the certification required for these workers, according to the Internal Revenue Service. Newly-revised Form 8850, now available […]