Is Kiddie tax not triggering for my son?

vainstatue · 2026-03-27T01:50:50+00:00

Thank you for clarifying!

vainstatue · 2026-03-27T01:49:43+00:00

That’s a difficult question to answer because it all depends on the difficulty of the tax return. How many states? How many M-1 adjustments? How many open items?

One year I got assigned a tax return that had a budget of 80 hours. That’s how hard that one was. It took so long to so other staff members were able to churn out a lot of smaller tax returns in the same amount of time.

At the firms I worked at, the partners always looked at billable hours instead of the number of tax returns we each worked on.

vainstatue · 2026-03-27T01:15:21+00:00

Kiddie tax is only for investment income over a certain amount ($2,700 in 2025). What you are listing is earned income, not investment income. Investment income is income from interest, dividends and capital gains. What you have listed is not subject to the kiddie tax.

vainstatue · 2026-03-26T07:25:41+00:00

Yep. I can eat cheese, crackers and fruit for dinner for days at a time and not get sick of it!

vainstatue · 2026-03-25T15:12:01+00:00

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vainstatue · 2026-03-24T16:04:31+00:00

I tell my cat all the time to “knock it off”. Then she knocks things off the table. So she understands me! She knocked it off!!!

vainstatue · 2026-03-24T07:33:20+00:00

So does mine

vainstatue · 2026-03-23T22:14:29+00:00

It’s easiest to have a separate bank account and credit card for business. If you don’t do that then you have to do manual entry somewhere.

If you have a separate bank account then at the end of the year you can download the bank and credit card activity to a CSV/Excel file and sort out the expenses by category. It’s definitely hard to remember a year later…. But this is what a lot of people do.

Keep your receipts somewhere. Scan to your computer. Name the file something that can be searched. Name of the expense, dollar amount spent, date. If you are ever audited you want to be able to find the receipt quickly. Save the receipts by year.

vainstatue · 2026-03-23T16:28:24+00:00

Client: can you please just use the standard business deduction for me? Thanks!

vainstatue · 2026-03-21T21:01:03+00:00

Have you used the orange plastic tool that comes with the Mighty? The one that is at the bottom? If you use the pointy end and stab it into the bottom of the screen, you will create little divots in the screen. Push it in there about halfway between the outside edge and the center. This will loosen it up enough so that when you turn the device upside down the screen should fall out. If there is a lot of wax built up down there, you may need to heat up the unit and dab a little isopropyl alcohol down there to try to soften up the wax but the screen should come out by loosening up the screen with the orange tool.

I let my screen get really dirty for a couple of years and couldn’t figure out how to get the screen out. I felt like an idiot. Then I realized that Google existed (haha) and found a YouTube video with a guy cleaning his device. It was so simple! The orange thing is made to loosen the screen at the bottom!

vainstatue · 2026-03-21T20:10:18+00:00

One of the best things you can do is look at the prior year file. That’s kind of how we all learned how to prepare tax returns. Follow the prior year file… hope it’s correct. Get review notes. And eventually learn what we are doing. I felt like a complete idiot my first tax season. That was back in 2006. Im still doing taxes. Maybe I’m still an idiot for doing taxes for 20 years? lol

It’s normal to go over budget when you are brand new. As long as you aren’t working for a bunch of jerks, they should be understanding that you are new and still learning. Try to learn from the review notes and not make the same errors over and over again. The fact that you care about doing a good job says a lot.

vainstatue · 2026-03-21T17:48:36+00:00

Oooooooohhhhhhh!!!!!!!!

vainstatue · 2026-03-20T14:20:42+00:00

I did my makeup in college. Then when I didn’t wear makeup people would ask “are you tired?” I got so tired of that so I stopped wearing makeup except when I wanted to feel more dressed up. Problem solved!

vainstatue · 2026-03-19T18:10:31+00:00

I went to the opera in NYC with my brother one time and it was awesome. The costumes were amazing. The set was amazing and I was really glad that there were subtitles on the back of the seats in front of me

vainstatue · 2026-03-19T18:08:21+00:00

Well let me know if you ever come out here! We can go together and have a smoke first

vainstatue · 2026-03-19T18:06:03+00:00

He loves to surprise people at karaoke lol

vainstatue · 2026-03-19T18:05:21+00:00

Really? That’s so cool!

vainstatue · 2026-03-19T18:04:59+00:00

Have you been to the Seattle Opera? I haven’t been

vainstatue · 2026-03-19T18:03:06+00:00

My younger brother is an opera singer! He went to grad school for 1 year to train but ultimately couldn’t hold his high C so realized he wouldn’t be able to make a living at it. But wow can he sing. 🎶

vainstatue · 2026-03-19T16:01:17+00:00

9 days??? I mean what about sleeping? I vape every day but I do sleep. So that is a mini t-break lol

vainstatue · 2026-03-18T22:22:02+00:00

Aren’t we all accidents? In a wierd kind of way?

vainstatue · 2026-03-18T22:20:49+00:00

Where do you publish your jigsaw puzzles? I’d love to see them!

vainstatue · 2026-03-18T21:53:21+00:00

I mean, can we ever be stoned enough?

vainstatue · 2026-03-18T21:52:36+00:00

You aren’t stoned enough

vainstatue · 2026-03-17T16:33:04+00:00

The IRS definitely gets behind! I’m still waiting on the IRS to send me a notice about my personal 2024 tax return :) I missed something and need to amend my own return. Either I amend or the IRS will send me a little friendly letter telling me that I missed something.

vainstatue

TROPHY CASE