From the category archives:

small or home-based business

Health Care Reform Debate Starts Anew

28 December 2009

The debate about health care reform is starting… again.
Here’s why. The Senate passed a bill and the House passed a bill. They have some significant differences to work out. Two of the biggest issues? Paying for the thing and abortion. Neither of those discussions will prove to be an easy task.
But for [...]

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Online Merchants Brace for New Reporting Requirements

15 December 2009

The Housing Assistance Tax Act of 2008 made headlines as part of the larger Housing and Economic Recovery Act of 2008, or HERA, signed into law by President Bush. HERA was introduced as HR 3221 by Rep. Nancy Pelosi (D-CA), with the title: A bill to provide needed housing reform and for other purposes and [...]

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Tax Extenders Act of 2009

9 December 2009

Am I the only one who think this bill sounds like a bad infomercial?
But the Tax Extenders Act of 2009 is a real bill introduced on December 7, 2009 by Rep. Charles Rangel (D-NY). The title of the bill is as follows: To amend the Internal Revenue Code of 1986 to extend certain [...]

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Ask the taxgirl: 2010 Mileage Rates

3 December 2009

Taxpayer asks:
I haven’t seen the 2010 standard mileage rates that the IRS usually puts out at the end of November. Do you know if there was an announcement on this?
Taxgirl says:
You have super timing! I received this email at 8:53 a.m. today. At 2:36 p.m., an email from IRS landed in my [...]

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Ask the taxgirl: Cash Payments

2 December 2009

Taxpayer asks:
I own a number of buildings that I rent out. One of my tenants bounced a bunch of checks so I made him pay it all back to me in cash. My accountant told me that I should report the cash payments separately to the IRS since they are more than $10,000. [...]

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Ask the taxgirl: Do I Need a Form 1099?

19 November 2009

Taxpayer asks:
Several elderly friends have asked me to help them with administratrive work in there home. I would probably do this on an ongoing basis and I am sure each would end up paying me more that $600 a year. I would report all of this money (Schedule C I think) but am [...]

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Businesses Get Tax Break

9 November 2009

Don’t get too excited. It’s not a huge tax break – but it’s not a bad one either. A bill that was rushed through recently passed in Congress, known as The Worker, Homeownership and Business Assistance Act of 2009, will allow businesses to apply losses retroactively.
The bill, which was tacked onto the homebuyer’s [...]

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Ask the taxgirl: Deductions for Guest Blogging

20 July 2009

Taxpayer asks:
While putting together a new group of guest posters for my site, a tax question hit me! Is the time I spend guest posting on other blogs for promotional purposes tax deductible? i.e. I don’t get paid for the post – my only compensation is the link back. But I could be getting paid [...]

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Ask the taxgirl: Estimated Payments

18 July 2009

Taxpayer asks:
I’m a recent college grad working 2 full-time jobs and doing some free-lance work on the side. I have recently been asked to provide a w-9 for a $300.00 invoice I sent to a client, who happens to be my old boss. I was wondering, how much money should I withhold to [...]

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Ask the taxgirl: Alarm Systems

29 June 2009

Taxpayer asks:
After a string of robberies in my neighborhood, I decided to install an alarm system. I paid a flat fee for installation plus I pay an amount each month. Is any of this deductible on my taxes?
Taxgirl says:
If the property that you alarmed was your home, the answer is no. There is [...]

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