Jason Dinesen

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So far Jason Dinesen has created 870 blog entries.

Rental Owners, 1099s, And the New QBI Guidance

By | January 18th, 2019|Categories: Small Business Tax and Accounting|Tags: |

The IRS released a revenue procedure today (Friday) that clarifies the treatment of rental properties and the “qualified business income” deduction. The revenue procedure provides a safe harbor where rental activity can be presumed to be a “trade or business” for QBI purposes. This ties back into the 6-part series I posted a month ago about [...]

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Glossary: Form 1099-C

By | January 16th, 2019|Categories: Potpourri of Tax Topics|

Form 1099-C is a form used by lenders to report canceled debt to the IRS. Canceled debt is often taxable to the recipient, though the tax code contains a number of "outs" that can allow the recipient to avoid taxation. Examples of those outs include when the taxpayer is insolvent, or foreclosures on a taxpayer's primary [...]

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Glossary: Railroad Retirement Benefits

By | January 9th, 2019|Categories: Potpourri of Tax Topics|

Railroad Retirement Benefits are a type of retirement benefit paid to -- as the name suggests -- people who worked for the railroad. There are two types of Railroad Retirement Benefits: Tier I and Tier II. Tier I Tier I benefits are equivalent to Social Security benefits and are taxed in the same way. Tier II [...]

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From the Archives: The $250 Educator Expense Deduction and College Professors

By | January 2nd, 2019|Categories: From the Archives|Tags: , |

It's a holiday week so I am re-publishing popular posts from the past. This post deals with whether or not a college professor can take the $250 deduction for educator expenses. One update to the last sentence, on the part about the professor instead taking a miscellaneous itemized deduction -- "tax reform" has taken away miscellaneous [...]

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Top 5 Blog Posts of 2018

By | December 26th, 2018|Categories: From the Archives|Tags: |

Time once again to recap the 5 most-popular blog posts on my website for 2018. #5: Do I Have to File a Tax Return After I Turn 72? (Last year: #2) An enduring favorite, first published nearly 7 years ago, about a myth that circulates around the internet that once you reach a magic age (most [...]

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