Tax Information For Work At Home Moms

They say there are only two things guaranteed in life. Death and taxes. For the new work at home mom, taxes can be a confusing topic. Is it better for you to incorporate or run your company as a sole proprietor? What can you consider business expenses – is the latte with with your business partner really a write off? Can you hire your teenagers to do small tasks for your business? Do you need an accountant as a work at home mom or can you still use a big chain to prepare your taxes to save some cash. We’re not accountants – and we don’t claim to replace the advice of one – but we hope we can lead you in the right direction via the articles below.

A Moving Story

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or Three Good Reasons to Tell IRS You Moved Instinctively, the last thing you would ever want to do is make it possible for the tax man to find you. You’d remain as unobtrusive and anonymous as you can, when it comes to taxes. Not always such a good idea. People have brought TaxMama® several […]

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Marital Conflicts of Interest

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Tax professionals take a lot of courses to keep up with the changes in the tax laws, as you might imagine. One of the people who ensures that we stay current and know the rules is Karen Hawkins, who oversees the IRS’ Office of Professional Responsibility (OPR). In one of the courses she taught a […]

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The Ins and Outs of Shoeboxed.com

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Over the years, TaxMama® has learned that the hardest part about doing your tax return is organizing all the data you’ve collected all year. I also realized, early in life, working in accounts payable and payroll departments – that employees have a remarkable resistance to finishing up their expense reports so that they can reimbursed. […]

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Are You Classifying Your Workers Properly?

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When you run a business from home, it’s very common to take some short-cuts. One of the easiest things to brush aside is payroll – and the related payroll tax issues. I understand what an utter nuisance an imposition it can be to set up a payroll for one employee. The truth is, doing payroll […]

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Vehicle Deductions Driving You Crazy

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A tax attorney sitting at an IRS audit sent me an email: “The auditor insists that for a self-employed person, driving to and from work is considered commuting and not deductible. Is that true? I always thought that driving to and from work for a self-employed person is not commuting.” I cringed! This reminded me […]

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Summertime Parties – Tax Deductible?

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Summertime and the livin’ is easy…George & Ira Gershwin’s lyrics  and music from Porgy and Bess evoke the sensuality of a long, hot and passionate summer. Listen to Ella Fitzgerald. Can you feel it? Mmmmm…. Great background for a summer party. OK, perhaps an adult party. Well, this is the time of year we start […]

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Is Your Family Vacation Tax-Deductible?

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Summer is nearly here – and your children are about to be released from school for the summer. Inevitably, you’re going to do some traveling. With fuel prices as high as they are, all forms of transportation are more expensive than last year. How can you recoup some of the costs? Turn your vacation into […]

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Home Based Business Accounting Software Options

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My boss at a national CPA firm once quipped, “When a client tells me he wants his wife to do his bookkeeping, I charge him double.” It took all my self-restraint to avoid strangling him. I have found that he was right – only 1/3 of the time. Generally, women are easier to teach than […]

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Who is Better at Dealing with Tax Problems? EAs or CPAs

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Someone recently invited me and my EA Exam Review graduates to answer tax questions on their new site for pay. The affiliate marketing mini-article he gave me talked about CPAs answering the questions; but never mentioned enrolled agents at all. Since he was inviting me and my graduates to answer questions, I sent him a […]

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Hobby or Business

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I spent this week with Melinda Emerson, the SmallBiz Lady, doing a Twitter Chat with her and her audience. It was a very illuminating experience, sitting on the phone with her and Tai Goodwin, talking to each other while we were posting all the Tweets. All of this came to mind when Mary asked TaxMama […]

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