UPDATED 10/1/13: Though this article remains true, you may now go to Healthcare.gov to learn more. The US Supreme Court concluded in a 5-4 decision on June 28th 2012 that the so-called “individual mandate” to purchase health insurance, also known as the “shared responsibility payment,” is neither a penalty (despite being labeled as such in the […]
Do You Feel Abandoned By Your CPA?
What’s the #1 way to ensure your business grows slower than a ‘73 VW Beetle on its way to a Grateful Dead concert? By abandoning your client or customer at the end of the project or service. Why is this true? Because for micro-business owners, our current customers represent two very valuable and important assets: […]
I’ve Just Received an IRS Notice — Now What?
Did you know the IRS sends millions of notices to taxpayers every year? And starting right about now, post-tax-season, the IRS is busily verifying the accuracy of returns and taking action on misreporting, underpayments, and errors. But that doesn’t mean you need to worry. Many of these notices can be dealt with very simply, without […]
Form 1099 K FAQ’s
People from around the country emailed me with questions about the IRS Form 1099-K, and “1099-K” is the single most popular search term for my site to date. I’m told that it’s difficult to figure out “where to put Form 1099-K” in some of the retail tax software programs used by DIY’ers. So as the tax […]
Five Reasons To Hire A CPA Now
In case you haven’t already hired a professional tax preparer, or you’re on the fence about it, here are five reasons why I think you should do so. Note that by “professional” I don’t mean the good folks at H&R Block or Liberty Tax. There’s nothing wrong with them, but many of the employees there […]