Jason Dinesen

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So far Jason Dinesen has created 867 blog entries.

The Iowa Form 130

By | November 20th, 2019|Categories: Potpourri of Tax Topics|

Iowa Form 130 is used by Iowa residents who pay tax on income to both Iowa and another state. Here are some examples of how it works. Form 130 Example Let's say Alex lives in Council Bluffs, Iowa, but he works across the river in Omaha, Nebraska. Alex will pay tax to Nebraska because he works [...]

Do I Lose the Tax Deduction if I Don’t Issue a 1099?

By | November 6th, 2019|Categories: Potpourri of Tax Topics|

Question: if I don't issue a contractor a 1099-MISC for their work, will I lose the ability to take a tax deduction for that payment on my business tax return? Answer: NO!!! But sometimes IRS auditors will try to take this position. Discussion There are two separate issues here. One is the ability to take a [...]

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S-Corporation Loans from Shareholders, Or “My Dentist Told Me”

By | October 23rd, 2019|Categories: Potpourri of Tax Topics|

Last fall I was meeting with a prospective client who was starting a small business. The business had just $10,000 of income in 2018, and would maybe have $30,000 of income in 2019. She was thinking about making her business an S-corporation because her dentist had told her about "these great tax strategies where you put [...]

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Do I Have to Issue 1099s for “Business to Business Transactions”?

By | October 17th, 2019|Categories: Small Business Tax and Accounting|Tags: , |

(NOTE: I have been terrible about writing posts this year; I am finally back at a point of being able to blog again, so you'll see posts more often from me. And if this post is any indication, I have my flair back that so many people liked, of writing with humor and going on long [...]

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How to Fill Out Form W-9 (Most 1-Person LLCs Are Probably Doing it Wrong!)

By | August 7th, 2019|Categories: Small Business Tax and Accounting|Tags: |

This post is part of a larger presentation I give on the topic of Form 1099-MISC and related topics. Form W-9 is one of those "related topics." Form W-9 comes into play when a business pays a contractor. It helps the paying business: Know if it needs to issue a 1099-MISC to the contractor, andGathers the [...]

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