The IRS operates with a different set of rules when auditing a return to determine if the losses claimed on Schedule C are those of a business or a hobby. Intentions Matter A hobby is any … [Read more...] about Do You Have a Business or a Hobby?
Keystone Financial Solutions
Self-Employed Who Need Not Remit Estimated Taxes
Why a few self-employed or gig economy individuals need not pay estimated income taxes. General Rule Independent contractors, typically referred to as self-employed individuals or gig … [Read more...] about Self-Employed Who Need Not Remit Estimated Taxes
Final Tax Return Considerations
As a survivor, executor or administrator of an estate, you are obligated to file an income tax return reporting all the deceased's income up to his or her date of death. IRS Tax Forms … [Read more...] about Final Tax Return Considerations
Documents that a Homeowner Should Maintain
Individuals who purchase real estate should maintain a binder to organize their important papers and documents. Paper or Electronic Files? There is no doubt that paper files can be very … [Read more...] about Documents that a Homeowner Should Maintain
Where Is My IRS Tax Refund?
My neighbor, relative, work associate, etc. received their refund, why haven't I received my refund? Why Some Refunds Take Longer than 21 Days For taxpayers who file electronically and … [Read more...] about Where Is My IRS Tax Refund?
Self-Prepared Tax Return Errors
Senior IRS Stakeholder Liaison Officer Identifies Errors Found on Self-Prepared Returns Usually Not Found on Professionally Prepared Returns The IRS Audit Under Reporting (AUR) Program … [Read more...] about Self-Prepared Tax Return Errors
