by Leif Jensen | Aug 20, 2019 | Taxes |
Couples who are self-employed must each figure their SECA tax separately and are required to complete a separate Schedule SE. Their total combined self-employment tax then goes on Schedule 4, line 57, of the 1040. Losses incurred in one spouse’s business cannot be...
by Leif Jensen | Aug 19, 2019 | Tax Court |
A company’s CFO has liable for its past-due employment taxes, according to the tax court The CFO had control over the company’s bank account and oversaw all aspects of the firm’s operations and finances, including payroll, tax return preparation and personnel matters....
by Leif Jensen | Aug 14, 2019 | Tax Court |
Surprise, collectors can’t get the market full value of coins seized by IRS, according to a federal court. During a home search, an IRS agent confiscated 364,000 presidential $1 coins that were rolled and boxed. After seizing the coins, the Service unpacked them and...
by Leif Jensen | Aug 13, 2019 | Tax Court |
Shocking news; reporting Schedule C losses and lots of other income is an audit red flag. Make it seem like the activity sounds like a hobby to cinch the deal. In a recent case, a pilot with substantial wage and pension income bought an antique fighter jet. He then...
by Leif Jensen | Aug 12, 2019 | General, Rant |
Words are the foundation of our means of communicating; our words and body language tell the story. Words hold a power over us, so much so that one of my writer clients named their company “Words Create Change”, because they do and they have. So with words being so...
