The IRS is looking at consultant and other professional income taxes and has issued new audit guidelines. One of the issues they are looking for is shifting income from one entity to another. The following is an excerpt from the…
Author Archive for Oscar
Have Computer – Will Travel
by Oscar • • 0 Comments
Have Computer Will Travel Wire Matis at matis@1099bookkeepers.com Brooklyn NY
Tax Tips for Students Starting a Summer Job
by Oscar • • 0 Comments
School’s out and many students will be starting summer jobs. We remind our readers that the IRS is your silent partner in most endeavors. We remind students that not all the money you earn may make it to your pocket.…
Summer Day Camp Expenses May Qualify for a Tax Credit
by Oscar • • 0 Comments
Summer Day Camp Expenses May Qualify for a Tax Credit Along with the lazy, hazy days of summer come some extra expenses, including summer day camp. But, the IRS has some good news for parents: those added expenses may help…
Prepare for Hurricanes, Disasters by Safeguarding Tax Records
by Oscar • • 0 Comments
WASHINGTON — The 2011 hurricane season starts today, and Matis of 1099bookkeepers.com encourages individuals and businesses to safeguard themselves against natural disasters by taking a few simple steps. Create a Backup Set of Records Electronically Taxpayers should keep a set…
Is the 60,000 page Tax Code too complex?
by Oscar • • 0 Comments
….The Only Thing More Complex Than the Tax Code Is Figuring Out How to Fix It By Aaron Task | Daily Ticker April 18, 2011 Thanks to a quirk in the calendar, Americans had some extra time to file their…
Tax advisers: Higher rates are coming
by Oscar • • 0 Comments
Tax advisers: Higher rates are coming By Bernie Becker – 04/17/11 05:27 PM ET As many Americans finish their returns to send to the IRS, some financial advisers say that, with deep budget deficits and the Bush tax…
Tax Return Penalties
by Oscar • • 0 Comments
The tax code contains a whole boatload of penalties. Some of these penalties related to tax returns failure to pay or failure to file are as follows: If you do not file by the deadline, you might face a failure-to-file penalty. If…
Amended Returns
by Oscar • • 0 Comments
An amended tax return generally allows you to file again to correct your filing status, your income or to add deductions or credits you may have missed. Here are some pointers about amending your federal income tax return. Use Form 1040X, Amended…
IRS Nightmare: What Employment Taxes?
by Oscar • • 0 Comments
IRS Nightmare: What Employment Taxes? Apr. 12 2011 – 9:19 am By ROBERT W. WOOD From Forbes You probably fear an IRS audit. See What’s Your IRS Audit Risk? That’s only natural, like fearing heights or spiders, no matter how…