From the Archives: Issue a 1099 to a Hotel for Rent Expense?
I’m still not 100% confident in what the answer to this question is.
From the Archives: Win a Home on TV, Find a Tax Collector in the Attic (the Tax Consequences of Winning a Home in a Giveaway, Part 1)
This post from January of 2012 is about the tax consequences of winning the HGTV “Dream Home” giveaway.
From the Archives: The IRS’s Preparer Directory Will Be Bad News for Enrolled Agents
It’s a holiday week, so I’m re-publishing popular blog posts from the past. New material resumes next Tuesday the 10th. This post from almost exactly 2 years ago features me going on an editorial rant about the IRS’s “Directory of Federal Tax Return Preparers with Credentials and Select Qualifications.” Looking at this again with 2 […]
From the Archives: Taxpayer Identity Theft, Part 18
It’s a holiday week so I’m re-posting popular blog posts from the past. This post from August 2013 is the next-to-last in a series of posts about a client of mine who spent more than 2 years — or 850 days, or 2 years, 3 months, 28 days — battling the IRS after her deceased husband’s […]
From the Archives: Iowa Tuition & Fees Deduction – A Reminder from IDR
Taxpayers can take a tuition and fees deduction on Iowa tax returns — but only if they took the tuition and fees deduction on their federal return.
From the Archives: Yes, You Have to File a Tax Return Even If You’re 72 Years Old
There’s a rumor out there that you can stop filing tax returns when you turn 72. This rumor is not true.
From the Archives: Baseball and “Games Behind in the Loss Column”
The concept of “games behind in the loss column” is really only relevant if two teams have played an unequal number of games. Why do pundits use this terminology so much? Because it reflects how much a team “controls its own destiny.”
From the Archives: Send a 1099-C to a Non-Paying Customer? Updated
Can you send a 1099 to a deadbeat client? It’s probably legal, but probably not a good idea.
From the Archives: Do Extreme Couponers Pay Tax?
It’s a holiday week, so I’m re-posting popular stories from the past. A few years ago a show called “Extreme Couponing” was on TV. I decided to explore the tax consequences of people who use dozens (or sometimes hundreds) of coupons to end up paying almost nothing at the grocery store. A common search term […]
From the Archives: Taxpayer’s Drag Racing Team is Not a Business
This post from 2011 is quite popular. It’s about a person in Minnesota who had a drag racing team which showed substantial losses each year. He took those losses as business deductions on his tax return, but the IRS and Tax Court said “no.” The moral is: if you say your “business” had $350 of […]
