From the Archives

/From the Archives

From the Archives: Send a 1099-C to a Non-Paying Customer? Updated

By | September 6th, 2016|Categories: From the Archives|Tags: , , |

Can you send a 1099 to a deadbeat client? It's probably legal, but probably not a good idea.

Comments Off on From the Archives: Send a 1099-C to a Non-Paying Customer? Updated

From the Archives: Do Extreme Couponers Pay Tax?

By | July 8th, 2016|Categories: From the Archives|Tags: , |

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 that [...]

From the Archives: Taxpayer’s Drag Racing Team is Not a Business

By | July 6th, 2016|Categories: From the Archives|Tags: , |

Image courtesy of Pixabay.com 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 [...]

From the Archives: Why are Enrolled Agents So Crabby?

By | June 2nd, 2016|Categories: From the Archives|Tags: , |

It's a holiday week, so I'm re-posting popular blog posts from the past. This is one of my favorites. It was among my first forays into editorial commentary and defending the EA designation.

From the Archives: How to Allocate the Deduction for Federal Estimated Tax Payments on Your Iowa Tax Return

By | May 31st, 2016|Categories: From the Archives|Tags: , , , |

Iowa allows a deduction for federal income taxes paid, including estimated tax payments. The deduction for estimated payments is not straightforward if you're filing your tax return as married filing separately.