Dear Family, Brent Clanton called me this morning to talk about how to write off your summer BBQs and family trips on his BizRadio Network show. (BTW, you really must read Brent’s blog. I’ve been sitting here cracking up at his latest columns, especially about the pants. https://brentclanton.blogspot.com/ ) You can, you know – if […]
Tag Archives: Internal Revenue Service
Yesterday, I was privileged to attend a telephonic press briefing as IRS introduced their new proposed format for the Form 990, Return of Organizations Exempt from Income Tax, the form filed by many public charities and other exempt organizations. As I say, it’s just a discussion draft, open for public comment. The draft form and […]
Today TaxMama hears from Michelle in MN who wants to start out right. “If I were to earn summer income of $900 or less through casual labor, online surveys, mystery shopping, and garage/eBay sales, how should I go about reporting all this stuff? Would I have to establish myself as a business in order to […]
Happy Birth Anniversary of Frank Lloyd Wright, 1867 Dear Family, Let me introduce you to someone new. Kathryn Durham is the passionate author of Mom, Can You Buy Me This? Today she turns her passion to children being sent pre-approved credit cards. Kathryn strikes a chord with today’s article – Credit Cards vs Cigarettes. Well, […]
By David & Mary Mellem, EAs The issue is whether a tax practitioner can be convicted under §7206(2) for preparing a fraudulent return and presenting it to the taxpayer with the expectation that the taxpayer will file the return or whether the return has to be presented to IRS for processing in order for the […]
IRS Updates National Research Program for Individuals IR-2007-113, June 6, 2007 WASHINGTON — Internal Revenue Service officials today announced plans to launch a new National Research Program (NRP) reporting compliance study for individual taxpayers that will provide updated and more accurate audit selection tools and support efforts to reduce the nation’s tax gap. The latest […]
Today TaxMama hears from Kathy in Minnesota who wants to know.https://www.richereducation.co.uk/wp-content/languages/new/essay-writing-service-reviews.html “What is the form to elect to change business form? For instance to change from a partnership to a sole proprietor?”
Today TaxMama hears from Louise, from the Food Pantries in Albany, NY www.foodpantries.net . Louise tells us. “We are a small 501©(3) organization. I’m desperately trying to find out if we are eligible to claim exemption from federal and state fuel taxes (sales, use and excise). The Food Pantries for the Capital District has two […]
Today TaxMama hears from Carlos, in Rhode Island who wants to know.buy viagra super active generic viagra4pleasurerx.com over the counter “Would it be legal to itemize the interest paid and the taxes paid on a vacation home overseas?”
Dear Family, Well, my week of sleeping late and waking up to daylight is about to end – just as your vacations are starting. Now it’s your turn. The world is filled with graduations and new beginnings this week. For parents, a huge weight is lifted as your children complete this phase of life and […]
By David & Mary Mellem, EAs This Act, made Public Law 110-28 by President Bush’s signature on May 25, 2007, increases the Federal Minimum Wage and provides some tax changes as well. It can be found at the government’s web site of thomas.loc.gov by searching for HR 2206 or by going to Public Laws and […]
Today TaxMama hears from Miguel in Arizona, who tells us, “I want to sell my condo. I have only been in it for a year. How much of a capital gain will I have to pay?”