Today TaxMama® hears from Idlkotr in the TaxQuips Forum, with a good question. “I have the opportunity to be an independent contractor. I am an occupational therapist who will be working with disabled children in their home. Thus, a lot of driving. I will be doubling my income. I do not have a clue how […]
Tag Archives: Internal Revenue Service
Today TaxMama® hears from SwampWiz in the TaxQuips Forum, who is frustrated (can you blame him? Please read his detailed rant. Following is simply a summary.) “I had read an official IRS notice that stated that if the individual’s income were to be “higher” than the one that had been proposed for the subsidy, the […]
Today TaxMama® hears from Johnathan in the TaxQuips Forum, with a good question. Let me summarize. “Although I have lived in my home for more than two years, I don’t have proof of that. My voter registration, driver’s license and banking all show a friend’s address. What kind of penalties will I face if the […]
Today TaxMama® hears from Shelli in the TaxQuips Family Forum, with this concern. “Have any of you mastered how you will handle this year’s Electronic FBAR filing requirements for your clients? Is there software that will assist?” TaxMama Note: The FBAR form is for people who have or control financial assets outside the U.S. If […]
Today TaxMama® hears from Patricia in the TaxQuips Forum, with this question. “I have a client who is 70.5 and working for his own company. He has a 401k plan. Does he have to start taking distributions from his 401k because he is 70.5, even though he is still working? Can he still contribute to […]
Today TaxMama® hears from “AReasonableMan” in the TaxQuips Forum, with a question about his wife’s inheritance. Essentially, it boils down to this.buy lexapro generic https://rxbuywithoutprescriptiononline.com/lexapro.html over the counter His mother-in-law died. Among the items his wife inherited is an IRA. When a person is over age 70 ½, they are required to draw a certain […]
Today TaxMama® hears from Shauna in the TaxQuips Forum, with this news. “I just found out that I was pregnant and my baby is due in October. Would it be smart to add my unborn child to my W-4 now? Also which would I come out better doing, claiming head of household or just single […]
Today TaxMama® hears from Straffan in the TaxQuips Forum, with this quick question. “Do you have to keep a separate log with start and stop odometer readings for each business trip? Or can you just add mileage notes to a daily planning diary? Would you still have to include odometer readings in the diary to […]
Today TaxMama® wants to alert you about some important deadlines looming at the end of June 2013.
Today TaxMama® hears from RJ in the TaxQuips Forum, with a travel question. “I am a single member LLC. I have a long-term (3 year) out-of-state contract, which requires me to be physically onsite at the client’s location 75% of the time (3 weeks per month). I am currently renting an apartment and deducting the […]
Today TaxMama® hears from Raj in the TaxQuips Forum, with a common issue. Let me summarize. (You can read the discussion here ) His tax return is being audited and the IRS auditor wants copies of receipts for his hotel stays for all his travel. But he used the IRS per diem rates, so he […]
Today TaxMama® hears from Pierre in the TaxQuips Forum, with this issue. “In 2012, an S-Corp had an employee who stole cash from them through the inventory and sales. They own a NAPA Auto Parts store.https://www.giveapint.org/wp-content/languages/new/veklury.html They have camera tapes on him and have reported the theft to NAPA. They did not report the theft […]