The Tax Preparation Blog

Posts Tagged ‘irs’

Question: What is the best and easiest Tax Preparation Software?

My wife and I have two incomes ($170k +) Many deductions, charity work, options, stock sale at a profit, dividen income, and an office at home. We have been going to a CPA the past few years paying $200 – $300 because of all the documents which is fine, but I’d like to try it myself.

Thanks for your help.
We don’t have children (yet!)

Answer: Your tax return does not appear to be complicated. Sure you can give it a try. If it does not work, or to check if you have done it right, you can always go to your CPA.

Taxpayer Blues $13.49 “Taxpayer Blues” features eight full-length songs that poke a little fun at the American tax system. The genres range from blues to country to easy-listening. Several of the songs are original compositions, while the others are rewritten versions of traditional classics. All songs are performed by Ruby Tunes, a collection of Boston’s finest studio musicians and vocalists. So sit back, tap your…

TurboTax Deluxe Federal + E-file + State 2011 for PC [Download] $29.26 TurboTax Deluxe: Guides you step-by-step to maximize your deductions…

TurboTax Deluxe Federal + E-file + State 2011 $8.65 TurboTax Deluxe 2011 – Federal & State + E-File is ideal for maximizing deductions and saving more on taxes – and is easy for first time users. This software includes everything you need to do your taxes with ease, finding all the tax deductions and credits you deserve so that you get your biggest refund. With simple questions to guide you through the process, TurboTax Deluxe 2011 looks for deduct…

---

Free Tax Preparation services offered for qualified Kauai residents

LIHUE – The Kauai Volunteer Tax Preparation organization in partnership with the County of Kauai is offering Free Tax Preparation services for qualified residents.

Tax Preparation

Question: Can I file an amendment to my 2008 tax return or does a tax professional have to do it?

I always do my own taxes online and we are buying a home and qualify for the $8000 homebuyer tax credit. I am trying to find out if I can file the amendment or if I have to have a tax professional to do it?

Answer: you can file it. 1040X is what you would file. and included as supporting documentation the schedules that changed from the original return.

Why no one is required to file tax returns: Reforming tax laws using our fifth amendment rights $156.92 …

Impact of off-code amendment to consolidated return rules.(partnerships and consolidated groups): An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on July 1, 2001. The length of the article is 1115 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle:…

W. Vaughn Ellsworth’s simplified fifth amendment income tax return packet …

---

Liberty Square owners file countersuit in Ypsilanti Township’s effort to declare townhouse complex a nuisance

The building exteriors all have been condemned in Liberty Square.Tom Perkins | For AnnArbor.com An attorney representing multiple Liberty Square property owners has filed a countersuit against Ypsilanti Township alleging, among other things, Fifth and 14th amendment rights violations in……

Before You Amend Your Tax Return if You Lost a Dependent Exemption on Your Form 1040

Question: “Income tax exemption: altered.”?

My original parenting plan says if my son’s dad is not current on child support that I can claim my son on my tax return. (we were to take turns). He had his supprt lowered (and is still not paying) My confusion is in the paperwork I got with the new amount , change in insurance responsibility, etc., It had a blank line where his attorney wrote “Change ITE.” I looked on the court public access online and it said, “Income tax exemption: altered.” Does anyone know what this means? something to do w/ filing taxes or how he got his payments lowered?. Nothing actually says I can’t claim my son. who do I call about finding out? wouldn’t something have to be given to me in writing if the rule was changed?

Answer: The custodial parent gets to claim the qualifying child when all of the rules are met by the custodial parent and the qualifying child to be claimed as a QC dependent.
Go to the IRS gov web site and use the search box for Publication 17 go to chapter 3
Qualifying Child
Residency Test Rule 3
Children of divorced or separated parents or parents who live apart. In most cases, because of the residency test, a child of divorced or separated parents is the qualifying child of the custodial parent. However, the child will be treated as the qualifying child of the noncustodial parent if all four of the following statements are true.
Custodial parent and noncustodial parent, The custodial parent is the parent with whom the child lived for the greater number of nights during the year. The other parent is the noncustodial parent.
Equal number of nights, If the child lived with each parent for an equal number of nights during the year, the custodial parent is the parent with the higher adjusted gross income.
You can click on the below related link for more information and examples.

1.The custodial parent signs a written declaration, discussed later, that he or she will not claim the child as a dependent for the year, and the noncustodial parent attaches this written declaration to his or her return. (If the decree or agreement went into effect after 1984 and before 2009, see Post-1984 and pre-2009 divorce decree or separation agreement , later. If the decree or agreement went into effect after 2008, see Post-2008 divorce decree or separation agreement , later.)
2.A pre-1985 decree of divorce or separate maintenance or written separation agreement that applies to 2009 states that the noncustodial parent can claim the child as a dependent, the decree or agreement was not changed after 1984 to say the noncustodial parent cannot claim the child as a dependent, and the noncustodial parent provides at least $600 for the child’s support during the year.
Custodial parent and noncustodial parent. The custodial parent is the parent with whom the child lived for the greater number of nights during the year. The other parent is the noncustodial parent.

Estate and Trust Administration For Dummies $10.19 Executing an estate or a trust fund is a big responsibility. Estate & Trust Administration For Dummies contains advice for handling estates and trusts of any size. It offers solid pointers on reading and interpreting a will and other documents, and helping heirs avoid paying too much (or too little). It also shows you how to take care of a loved one’s estate in the event that a will or trust wa…

J.K. Lasser’s Your Income Tax 2012: For Preparing Your 2011 Tax Return $12.71 This guide offers easy-to-follow, expert advice and guidance on planning and filing your taxes. It covers some of the most important tax topics, from what you must report as income and strategies that will save you on taxes to how much tax you actually owe and what deductions you can claim….

The Ernst & Young Tax Guide 2012: Preparing Your 2011 Taxes $10.21 Praised by the New York Times as the #1 choice among popular tax guides, this is the essential book for those who want to prepare their 2011 taxes themselves but seek guidance from a trusted brand to help navigate turbulent financial times.The guide’s Special Contents index for different types of tax payers ensures that readers in various financial situations will find advice pertaining spe…

---

Did Talking Ban in Strip Clubs Leads to Tax Evasion?

Strippers, mistresses, tax fraud — we must be talking about Wall Street.

New Rules: You and the IRS this January

Question: form 1040 ES vouchers?

I’m trying to fill out the 2008 1040ES form given this info:
2007Federal AGI: 237,000
2007 Federal Income Tax Liability: 41,500
Anticipated 2009 withholding: 30,000

I’m given a list of estimated tax payments for 4/15/08, 9/15/08, and 1/15/09.
How would I fill out the first voucher that is due 4/15/09? How would I figure my amount of estimated tax I’m paying?
Okay, I mean the 2009 ES

Answer: The hard way involves estimating what the 2009 tax liability will be. If you know that amount, multiply by 90%, subtract $30,000 (the anticipated withholding), and divide the amount that is left by 4. If you do not know the 2009 tax liability, then take the 2008 tax liability, subtract $30,000 (the anticipated withholding), and divide the amount that is left by 4.

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

---

Small retailers join online shopping war

THE National Retail Association has added small retailers’ voices to the call for a GST on online sales as the retail sales war heats up.

Ron Paul on the Public School System

Question: do you have to charge sales tax on website construction in MO or is it a professional service exemption?

Answer: Here’s the Missouri Sales and use tax web site:

http://www.dor.mo.gov/tax/business/sales/

So far everything I’ve seen says “retail sales of tangible personal property and CERTAIN SERVICES”, but I was unable to find which services are taxed.

(“Personal property” means anything other than real estate, and “tangible” means it hurts when it hits you. “Intangible” refers to assets on paper, such as patents, copyrights, contracts, trademarks, trade names, etc.)

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

The International Guide to Nonprofit Law (Wiley Nonprofit Law, Finance and Management Series) $215.00 With increased activity in the nonprofit world and a growing global business community, keeping up-to-date on the laws governing international philanthropy has become very complicated. This book is an easy-to-use reference on governing nonprofits around the world….

Tax Planning and Compliance for Tax-Exempt Organizations: Rules, Checklists, Procedures (Wiley Nonprofit Authority) $170.00 An essential, timesaving guide for accountants, lawyers, nonprofit executives and directors, consultants, and volunteersThis book is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations. A clear and fully cited description of the requirements for the various categories of tax-exempt entities from public charities, private foundations, civic associations, bus…

---

Calendar

Submissions for the Community Calendar are required 10 days preceding the date of publication. Send to: Pioneer Press, 3701 W. Lake Ave., Glenview IL 60026. Information may be faxed to (847) 486-7495 or e-mailed to mbottari@pioneerlocal.com.

Tax Deduction Tips & Advice : How to Claim Medical Deductions