Posts tagged as:

self-employment tax

Self-Employment Tax Break Noted in NY Times

30 September 2010

It turns out that the news about the SE tax break hasn’t garnered much press outside of the tax world. I’m fairly surprised by the lack of coverage considering the target market but my guess is that it has a lot to do with the fact that the break is only for one year. At [...]

2 comments Read the full article →

Self-Employed Folks Get a (Tax) Break

25 September 2010

As the debate over health care and health care costs continued to draw attention, it appeared as if the smallest of businesses, those who are self-employed, were being ignored. Most of the health care related tax breaks and credits have been focused on businesses with employees but those who are self-employed or primarily family owned [...]

11 comments Read the full article →

Ask the taxgirl: Pastors and Deductions

6 October 2009

Taxpayer asks: I read this article today and it seemed very aggressive, bordering on overly aggressive. Can you comment? http://www.startchurch.com/blog/view/name/can-pastors-deduct-tithes-as-business-expenses The tithe situation here just seems too good to be true. Next, my understanding that pastors are considered self-employed only for purposes related to the SE tax, not for deducting expenses. Therefore the home office [...]

0 comments Read the full article →

Ask the taxgirl: Reporting for Single Member LLCs and S corporations

24 March 2009

Taxpayer asks: Hi Tax Girl, I had income from multiple sources in 2008 – albeit, not much…it was a bad year I briely worked as an independent contractor for a real estate company and received a 1099-MISC for $5,467 of non-employeee compensation. It was reported under the single member LLC I formed (to my EIN). [...]

6 comments Read the full article →

Fix the Tax Code Friday: SE Tax

16 January 2009

It’s Fix the Tax Code Friday! Over the last few days, there has been a lot of focus on Obama’s nominee for Secretary of the Treasury, Timothy Geithner, and his tax woes. Geithner’s tax problems still from the failure to pay self-employment taxes during his stint at the IMF. Critics on both sides have seized [...]

12 comments Read the full article →

Ask the taxgirl: Where to Report Charitable Contributions

9 January 2009

Taxpayer asks: Hello there and thank you for answering my question. I am self employed and contributed nearly $8,000 in cash/non cash donations this past year (goodwill, church, habitat for humanity). When my friend did my taxes on her computer program it did not reflect a deduction upon entering in the charitable donation information. I [...]

9 comments Read the full article →