Reclassifying an Independent Contractor to an Employee
If you're an unhappy independent contractor, should you try to get reclassified as an employee? How would you go about such at thing??The IRS has very specific rules about who is an independent...
View ArticleFiguring Equivalent Billing Rates: W-2 vs. Corp-to-Corp
I often see questions posted asking what is the equivalent corp-to-corp rate for a given hourly rate paid to an employee. I think a better question is what rate will the market bear. But be that as it...
View ArticleThe Home Office Deduction: What happens when you sell your home?
The home office deduction is one of those deductions people often tout as an advantage of having your own business. But one of the disadvantages of taking the home office deduction people don't really...
View ArticleNew Way to Make IRA Contributions
Wouldn't it be great if you could make your tax refund right into your IRA for your annual contribution?Well, now you can. The IRS now allows you to split your refund into several accounts including an...
View ArticleTax Implications of those E-Bay Auctions
The IRS added a new article to its website, to help those of us who emptied out the garage or storeroom by selling unwanted items on E-Bay or other online auctions. The article outlines the required...
View ArticleEstimated Taxes for The Ant & The Grasshopper
Every year I see & hear horror stories about estimated tax payment gone wrong. I’m not sure which is worse, the person who didn’t have any idea they needed to make tax payments for both income and...
View ArticleTreasury Secretary Paulson with his head.....
in the sand. :)Economy - Wednesday (Investor's Business Daily) - Treasury Sec'y Henry Paulson said steps to make up for the gap between taxes owed and payments received would be too costly. "There is a...
View ArticleDeath to Internet Taxes!
C-NET's recent article on internet taxes got my ire up! We already have enough taxes! And, at least in California, we're already required to pay sales tax on tangible items purchased over the internet....
View ArticleThe Real Tax Reform Question
The real question of any tax reform should be what is taxable, not what's the tax rate. On the Colbert Report, Ron Paul said wants to eliminate the income tax and abolish the IRS. Mike Huckabee agrees...
View ArticleThis Just In... New Rules for S-Corps Shareholders Deducting Health Premiums
By now most S-Corps shareholders have heard about IRS Headliner 163. This said S-Corp shareholders with >2% ownership in the corporation could not take the same deduction to gross income for...
View ArticleTax Rebate Logistics ... or Illogistics?
All the recent hubbub about the tax rebates has me completely flummoxed and recent reports by the Tax Foundation make me wonder how all this hand waving by Congress & the Executive is actually...
View ArticleElection Taxes
I usually like to stay away from the political side of taxes, but this being an election year it's definitely a hot topic!Thanks to WebCPA I found this website that will calculate your estimated taxes...
View ArticleWhy you may not want to put too much information on your MySpace page....
Is 'Friending' in Your Future? Better Pay Your Taxes First (WSJ) - State revenue agents have begun nabbing scofflaws by mining information posted on social-networking Web sites, from relocation...
View ArticleShredding Party Woes
As another year comes to a close (oh my, make that a decade!) it's time to clear out that closet & make room for another year of Christmas toys... or tax records as the case may be. But don't get...
View ArticleBig Tax Hike for S corporations
One of the main advantage for forming an S corporation is about to go away.Right now, S corporation shareholders only pay employment taxes on the wages paid. But thanks to Section 413 of HR...
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