Monday, February 28, 2022

Overcontributing To Your 401(k)

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  One of the accountants had a question for me: A:                I added up the W-2s, but the wages per the software does not agree to my...
Sunday, February 20, 2022

Reporting Income Below A 1099 Filing Requirement

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  I am looking at a case that reminded me of a very recent telephone call with a client. Let’s talk about the client first. It is tax se...
Sunday, February 6, 2022

Taxpayer Wins Refund Despite Using Wrong Form

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Let’s look at a case that comes out of Cincinnati. E. John Rewwer (Rewwer) had a professional practice which he reported on Schedule C (pr...
Sunday, January 30, 2022

An Attorney Learns Passthrough Taxation

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  I have worked with a number of brilliant attorneys over the years. It takes quite a bit for a tax attorney to awe me, but it has happened....
Monday, January 24, 2022

A Failure To Keep Records

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You have to keep records. Depending upon, this can be easy. Say that you have a job and a money market account – two sources of income. At...
Sunday, January 16, 2022

Mean It When You Elect S Corporation Status

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I am looking at an odd case. I see that the case went to Tax Court as “pro se,” which surely has a great deal to do with its general incoh...
Sunday, January 9, 2022

Starting A Business In The Desert

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  Tax has something called “startup costs.” The idea is to slow down how quickly you can deduct these costs, and it can hurt. Let’s take...