Taxpayer asks: Wow, your website is really helpful! I have some Independent Contractor/Schedule C questions: Is it possible to deduct “professional development” costs? i.e. things I did or classes that I took that make me better at doing what I do as an individual in my very small business. My father thought it would be deductible,…
The confusion surrounding the infamous telephone excise tax continues to mount. Next on the list? A number of folks have the impression that, in order to claim the tax, you have to have a land-line. Not so. Cell phone users may qualify, as well as fax and internet phone customers. Why? The refund of the…
And speaking of nods, thanks to George over at Declarations and Exclusions for the mention!
And another three on the list of positions not to take on your individual income tax return as determined by IRS: 7. Only certain types of taxpayers are subject to income and employment taxes, such as employees of the Federal government, corporations, nonresident aliens, or residents of the District of Columbia or the Federal territories,…
And another three (we’re not getting through the list by the end of March!) the list of positions not to take on your individual income tax return as determined by IRS: 6. A taxpayer has been removed or redeemed from the Federal tax system though the taxpayer remains a United States citizen or resident, or…
And another two on the list of positions not to take on your individual income tax return as determined by IRS: 10. A taxpayer is not a “person” within the meaning of section 7701(a)(14) or other provisions of the Internal Revenue Code, or similar arguments described as frivolous in Rev. Rul. 2007-22, 2007-14 I.R.B. ___….
I had already reported that Jenkens Gilchrist was suffering as a result of its involvement in several tax scandals out of the Chicago area. Attorneys were leaving, offices were closing, but somehow, you still got the feeling that Jenkens was going to pull it out and be the Cinderella story of our legal March Madness…
And another two on the list of positions not to take on your individual income tax return as determined by IRS: 25. A tax assessment is invalid because the assessment was made from a section 6020(b) substitute for return, which is not a valid return. — 11. Federal Reserve Notes are not taxable income when…
Taxpayer asks: After filing my taxes, the end result was that I owe just over $800. Gasp! This is three weeks pay for me and I have NO savings at all. Can I make payments to the IRS? Is there any help they offer for people in my situation? Taxgirl says: Absolutely! You can establish…
Next on the list of positions not to take on your individual income tax return as determined by IRS: 5. United States citizens and residents are not subject to tax on their wages or other income derived from sources within the United States, as only foreign- based income or income received by nonresident aliens and…