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Audits of tax preparer

Ever since the IRS made it possible for any Tom, Dick or Harriet to do taxes with limited training and skills.  The service was supposed to make sure that these preparers at least filed their own returns.  Guess who wasn’t doing what they were supposed to do… The...

An Actual Independent Contract win

Workers for an apartment cleaning business are independent contractors, and not employees, according to the Tax Court The woman who operated her own business contracted with apartment complexes to clean vacated units. She then hired workers with prior cleaning...

Kids working this summer

If you a kid who actually has a job, as opposed to the typically summer jobs that don’t exist this year. You can contribute to a Roth IRA for him or her up to their earning limits or $6,000 whichever is less. If you decide to give this generous gift you have until...

RMD distributions in 2020

The IRS is providing welcome relief on required minimum distributions for 2020. The stimulus law enacted on March 27 waived RMDs from IRAs and workplace retirement plans for 2020. IRA and plan distributions already taken out in 2020.People have until Aug. 31 to return...

The next crisis

First, we had the virus and the closing of most businesses, then we had the protests and looting. Now we have cities moving to open up, but the virus numbers are increasing as well. In October it is believed that the virus may come back in full force. If so, will your...

Freedom to create vs no freedom

I was having an argument with my son a few weeks ago.  He was complaining that there is no freedom in the US to make your fortune today. I had to call bullshit on this claim. Within the last 20 years I started my business, when I did I started with nothing, no clients...

Best idea of the year

What is needed right now, is a search engine.  Not another Google or Bing, a special search engine. One that will daily gather the listings of all streaming services to identify where tv shows, specials and movies are playing on so we can find out which streaming...

As predicted

I predicted a month or so ago that business will have adjusted to a reduced work force, saving cash and training costs. Red Robin reduced their menu by 55 items, and they are not bringing them back.  This change has allowed for a reduced work force to be more...

PPP difficulties

I was meeting with a small business owner who had received their PPP funds.  But as with most things government related it was not completely welcome. They had furloughed a number of workers because of the shutdown, But they had to bring back unnecessary employees...

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