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Bob F
I created a tax preparation web site at http://www.zen-40.com. This involved a lot of research of the IRS web site and publications in order to create a programming logic flow that was in line with the IRS publications. The web site does not send ANY data over the internet by installing a small web application on the client's PC and using client-side scripting to perform all neccesary computations.
Totally off the wall W4 idea (United States tax)?
Each year, when I file, I can see what percentage of my income goes to taxes. It's usually 6 and change due to a lot of deductions and the child care credit. Wouldn't it make a lot of sense to allow people to just pick a percentage of their pay to have withheld based upon their previous year's tax liability? So, all I would do on a W4 would be to put down a simple number, 7% to have withheld. Does this make sense?
3 AnswersUnited States10 years agoConfirmation on a tax question?
I was reviewing a tax return prepared by my boss at our office yesterday. The taxpayer listed among her expenses "72 trips from lodging to office at a total of 1,060 miles (~14 miles per round trip)". I thought that this looked an awful lot like she was trying to deduct commuting expenses and I rejected it. Just curious if I did the right thing. She also listed expenses for trips to Austin, TX that included "hotel room approx. $70, hotel room $79.09, hotel room $35.50, food for a 1-day trip, approx. $50, food for a 2-day trip, approx. $60" and the preparer listed a total of $122 in travel expenses, which I also found odd. Thoughts?
2 AnswersUnited States1 decade agoForm 1099-MISC question?
I had a client yesterday, and they rented out a snow plow to do snow removal. They didn't do any actual snow removal themselves. They got a 1099-MISC from the company that rented the plow, and it listed the amount as non-employee compensation. I told them this looked more like rental income and they should speak to the company they did business with.
Is there a better way to handle this? Or was the company correct in doing it this way?
Thanks in advance.
4 AnswersUnited States1 decade agoQuick questions for experienced tax professionals?
I'm doing taxes for a local Liberty Tax franchise. I've already passed levels 1 and 2, but the level 3 exam was a bit of a bear. There are a couple of topics I did especially poorly on, and I was wondering if any of you could recommend specific study material.
My worst topics were (in order from worst to mediocre):
Resident and Nonresident Aliens
Rental Property (this hurts, I used to rent out a property in the 90's)
Employee Business Expenses (I get reimbursed, so I have very little experience in this area)
Thanks!
1 AnswerUnited States1 decade agoMy son changed his laptop setting so his monitor background is all black and I can't see a thing!?
Normally, I wouldn't have trouble changing his monitor's settings, but because he set the screen to all black, I can't even see where the menu selections are even when I bring up control panel or the windows display settings. He's using Windows XP. Thanks in advance for any help!
2 AnswersLaptops & Notebooks1 decade agoI just realized something concerning who should file taxes?
For many years, people have been told "if your income is below $x you don't have to file, but if federal tax was withheld, you should file anyway."
With the Making Work Pay credit, that advice is outdated. EVERYBODY with earned income should file, even if they earned $200 for the year to get that $12 back.
Am I missing something, or should we be changing our answers to reflect this fact (at least temporarily)?
5 AnswersUnited States1 decade agoDid I miss something or is the book incorrect?
Here's an actual question from a tax prep training book:
John and Mary were married in 2010. Mary had wages of $2500 and lived with her parents all year. John was in the Navy, stationed in Guam, trying to prevent the island from capsizing, and earned $12000. John and Mary file a joint return. Mary's parents have 2 other children 13 and 15 years old who lived with them all year. Mary's parents paid all of the support for Mary and their other children.
The questions are the number of exemptions claimed by John and Mary and the number of exemptions claimed by Mary's parents. In class, we thought it was 1 and 5 (because Mary only filed jointly to claim a refund), but the answer book listed it as 2 and 4. Did we miss something subtle that we may have overlooked or is the book incorrect?
1 AnswerUnited States1 decade agoDo any of you experience this with your abdominal muscles?
I often do a bunch of pullups for exercise. I let my legs hang in a manner where my abs are actually being engaged during the activity. Often, I still feel as though my abs are still working hours later, sometimes when I'm laying in bed when I'm ready to go to sleep. Is this odd?
1 AnswerDiet & Fitness1 decade ago