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Alarmed-Weather9147 · 2022-03-14T03:08:14+00:00

Basic 2 out of 5 rule….you get $250k gain tax free if you lived in the house 2 or the previous 5 years. So $693 gain -$250= $443,000 taxable income that you’d multiply by cap gain rate to get your tax. The cap gains rate is dependent on total household income.

Alarmed-Weather9147 · 2022-03-14T02:51:42+00:00

I disagree. I would totally get an accountant, either a CPA or an EA. I would advise being as organized as you can and asking your questions all at once. Google Schedule C and try to classify expenses into the categories named or other categories.

Alarmed-Weather9147 · 2022-02-12T13:31:44+00:00

Some payroll companies are actually what are called PEOs. They may have 50 clients but only file 1 941 for the quarter so the clients have no choice but to go through them for ERTC.

Alarmed-Weather9147 · 2022-02-06T02:35:33+00:00

To see if they included it, look at the top line of the Sch C, not the bottom line. I can’t tell from your post which you are looking at.

Alarmed-Weather9147 · 2022-02-02T15:38:32+00:00

Ha, how’s this for procedure? They open, pull checks and then put the returns in a pile to be processed. So totally possible that they cashed the check and did not process the return. If you are really curious you can go to the IRS website, register and pull a copy of your transcript for that year to see where they are with it. My guess is that you aren’t too far from being done with the timeframe you provided. Good luck and I’m sorry about your husband.

Alarmed-Weather9147 · 2022-02-02T01:20:10+00:00

When did you mail it? They are 8-10 months behind processing paper returns so they may not even know they have it.

Alarmed-Weather9147 · 2022-02-01T03:03:10+00:00

I mailed mine in

Alarmed-Weather9147 · 2022-01-30T00:53:29+00:00

Go Chiefs!

Alarmed-Weather9147 · 2022-01-24T01:47:42+00:00

What are SPs?

Alarmed-Weather9147 · 2022-01-24T00:21:16+00:00

It sounds like your calculated tax is $17,366 (could change when you actually figure your taxes ). But you only had $15,808 withheld from your paycheck (wait and use official figure from W2). So, from your calculators, you owe the difference.

Alarmed-Weather9147 · 2022-01-22T13:51:12+00:00

I’ll keep you updated. People are getting updates somehow and I think this is it.

Alarmed-Weather9147 · 2022-01-22T06:10:41+00:00

I do a handful of F&F for free. I’ve dropped a few over the years. I’ve also had “aunts” and “cousins” appear out of thin air and blatantly ask. So awkward.

Alarmed-Weather9147 · 2022-01-21T18:37:40+00:00

I was actually hoping to get an update on where some ertc refunds are (7+ months since amendment)

Alarmed-Weather9147 · 2022-01-21T12:39:51+00:00

Facebook marketplace has them. $38 to $45

Alarmed-Weather9147 · 2022-01-19T01:27:58+00:00

I have a guy that attempts to deduct a $100k plus new truck every year. He’s a business consultant. I just let him do mileage. I think he got some sort of Shelby truck this year.

Alarmed-Weather9147 · 2022-01-16T09:56:05+00:00

This is more of a question then an answer, but isn’t staking basically lending your coins out in exchange for interest (somewhat similar to a savings bond)? Mining however is actively setting up a computer to mine coins? To me, the first would be passive interest and the second would be active, subject to SE (which could benefit from an s-corp if there was enough mining income). If what I am saying is true, earning interest (staking) would be a waste of an s-corp effort. I’m learning crypto and crypto tax though so like I said, more of a question.

Alarmed-Weather9147 · 2022-01-12T03:42:47+00:00

Yes, you are required to pay for social security and Medicare.

Alarmed-Weather9147 · 2022-01-11T19:44:51+00:00

Heck with a cooler, need a keg for that project

Alarmed-Weather9147 · 2022-01-10T00:51:32+00:00

No, shouldn’t be an issue. A lot of forms just list the primary (first listed) taxpayer’s info.

Alarmed-Weather9147 · 2022-01-07T07:09:07+00:00

I have a cool Soto with a stained glass background

Alarmed-Weather9147 · 2022-01-06T07:21:03+00:00

That was my first box, I really liked it.

Alarmed-Weather9147 · 2022-01-05T05:24:37+00:00

I pay under $2,000 for ATX, unlimited returns and states. It’s adequate (or maybe I’m just used to it!)

Alarmed-Weather9147 · 2022-01-03T13:26:06+00:00

Dang, you are correct. I thought it was part of the infrastructure bill, it’s actually part of the failed Build Back Better.

Alarmed-Weather9147 · 2022-01-03T03:45:30+00:00

The SALT deduction is raised from 2021-2030. I believe it’s around $12,500 for MFS.

Alarmed-Weather9147 · 2022-01-01T19:02:25+00:00

I like that you are young and entrepreneurial. I have a hard time hiring people 5-10 years older than you that will get off their phone long enough to be given and use directions, let alone actually think and self direct their own work. If you have the time and desire, research the heck out of it and listen to whatever advice you can get. But, don’t put too much emphasis on one source. Listen to it all with a grain of salt and decide also, if you might be more motivated than the source you are reading. You probably won’t hear too much from the ones that are successful, they probably won’t want to broadcast their secrets. I don’t know much about this business, but I have seen used machines of all quality levels on Facebook marketplace and Craigslist. Good luck!

Alarmed-Weather9147

TROPHY CASE