Tax tips and guidance built for small business owners and the self-employed — deductions, filings, and the stuff that actually applies to you.
Taxpayer asks: I understand mileage rates changed in the middle of the year by the IRS. Can you offer the mileage rates for medical and for service with a non-profit. Taxgirl says: The craziness in gas prices this year did lead to a complicated mileage arrangement for 2008. The IRS normally updates mileage only once…
Taxpayer asks: Hi Kelly, Here is the situation i worked for a doctor’s office for two months and she informed me that I did not need to pay taxes because I was a temp. Ten months after I left the job she started asking me for my information because she said the tax laws have…
Taxpayer asks: I am a sole prop and paid rent to an accountant who is a professional corporation. Do I need to 1099 him? Taxgirl says: No, you generally don’t issue a form 1099 for rental payments made to corporations (there are some exceptions). For more on when a form 1099 might be appropriate, check…
Taxpayer asks: Good Morning Tax Girl, Thank you for this opportunity to ask you this question. I have a shop where I sell coffee among other things. I have the usual punch card for coffee drinks- buy 9, 10th one free. Is that 10th one tax deductible for my operation and if so would you…
Taxpayer asks: Aloha I am a bookkeeper for a small company. My boss wrote a check to a restaurant for preparing food for our Christmas party and it was over the amount for a 1099. I faxed a W-9 that week and have never heard a word. We just found out that the restaurant closed…
Taxpayer asks: Aloha Do I have any liability if I issue a 1099 to a contractor but they fail to report it or file their taxes? Thanks for your input. Taxgirl says: Nope. Your job is done so long as you properly and timely issue the form 1099 to the independent contractor and file the…
I previously blogged how to cut your 2008 individual income tax bill. I could hear the comments as I was writing: what about my business? Well, never fear! Following are some last minute suggestions to help save on your 2008 tax bill. But first, a word of caution: Just as with individual tax considerations, there…
Taxpayer asks: I think this should be an easy question for you… are monetary gifts ($250) given to employee spouses taxable as W-2 wages to the employee? Taxgirl says: Au contraire. This one feels like it should be easy but it isn’t. And the reason it’s not easy is because I am fairly certain that…
I was honored to find that one of my articles for the Legal Intelligencer was posted on law.com. You can read the piece, which focuses on tax issues related to holiday gifts and bonuses for employees, by clicking here.
Taxpayer asks: I have an online website sponsored through a company where I sell items and make a percentage off each sale. I am in the process of trying to get a trademark for the mark I use on the items that I sell. Unfortunately, there is someone else trying to get a similar trademark…