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Eight Small Business IRS Audit Areas to Watch Through the 2013 Tax Year Your small business that might fit any of these eight profiles could be a focus for IRS compliance efforts aimed at underreporting. The IRS continually analyzes compliance levels for entities, issues and industries by...

Energy Costs Rise as Tax Incentives Fade With energy costs skyrocketing, you would think that the federal government would come up with some tax incentives aimed at curbing the consumption of energy. However, on the consumer end of taxes, the incentives are actually...

Did You Overlook Something on a Prior Tax Return? Occasionally, clients will realize that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return was already filed. Regardless of whether the oversight will result in more...

I have been busy, But in answer to your questions in reference to an LLC, I think I covered it quite thoroughly it only covers you within your home state lines. even if you are an LLC, you still would have to file a Schedule C as a...

After noon Fastman, but you are going to have a problem if God forbid anything happens, Since you reside in Ohio, Your Ohio LLC will not be covered in Indiana, PA, or any other state if you have a serious accident. The LLC is strictly covered only in your resident state. and you can be sued...

HI All, Just a point of information. If you have not filed your 2012 tax return, my advice is to file for an extension to play it safe, Once the Extension is filed you will have until October 15, 2013 to complete and mail or e-file your return. Also check to see if you need...

Hi all, This has been a problem for quite a few years, the IRS legal explanation is you must make a profit within the first 5 years, not 3, they do not care if you make a $1.00 its still a profit, but it must be shown in the last 2 years of business startup. Basically as...

this is a better listing from the IRS Releases the Dirty Dozen Tax Scams for 2013 IRS YouTube Video Dirty Dozen: English | Spanish | ASL IR-2013-33, March 26, 2013 WASHINGTON — The Internal Revenue Service today issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use...

]Afternoon Webbly, Any asset that you purchase is not a taxable item on your tax return, it is a depreciable item for a period of 3 years with a 4 year life at straight line depreciation, with a 4 year life, meaning depending on the month and day it is put in service, the depreication...

the only way that you can get your 1099 misc is from the company that you were driving or leased to. What I would do is file for an extension or if you know the company who you worked for check your settlement papers and take the total of the income you received prior to any deductions and...

SSI Income is not taxable, due to the fact it is state Supplement Security Income

Paullud, Could you please explain that a little further? Pretend you are talking to a child. Can you do my state taxes in NY too if I use your services...

As long as she gets the 1099 from the company you can take the per diem on her Sch C only

Webbly, I do not know where you are getting your information from, but what you are saying to do it totally Illegal, Here is the problem, if you put anything into a personal account and your audited GUESS WHAT, THEY GOT YOU DEAD IN THE WATER. WHEN THE WANT TO SEE THE BUSINESS PART FIRST...

Webbly, Would you please be more specific as to what you are stating, connect with what department and what file are you trying to find.

there are a number of trucking software out there but they are very expensive and really not necessary if you sue the software I suggested you should be able to insert what ever your looking for and can use they as a combination like Quicken Personal and Business, or QuickBooks Pro, Excel or...

There is a lot more involved with the Corporation or Partnerships, basically with both the IRS basically requires you to keep minutes and have meeting at least once a month, draw a salary, pay federal withholding, unemployment, social security and medicare tax from your salary and quarterly...

Hi Pullld, Who issues the 1099 to her, is it the company you drive for or yourself, Bascally the per diem is for the driver(s), and not for helpers even though she drives with you, but does she drive the vehicle, if she does not have a CDL the per diem cannot be used as a deduction for her...

Hi All, If any of you are interested I have available to you free of charge a 2012 income tax organizer, which comes in 2 part, Part 1 is for your individual information and any itemized deduction you are able to deduct, part 2 is for you trucking or any business entity that you would have...

Hi All, there is a problem with turbo tax if you live in the state of Minnesota, According to the state, there are problem with there returns with in all of the Intuit labeled software, weather it be Turbo Tax, Turbo Tax Online, and there 2 professional versions that were sold under the...