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Question: w-9 tax form question ?

I have registered a business name and got insurance for doing small odd jobs now and then. I was sent a W-9 form for TIN by my bank. I work full time for a company and they pay all taxes from that but what I’m wondering is how this is all going to affect me. Since I only do a handful of odd jobs as under my own name am I going to be audited every year because i’m only claiming handful of jobs and the IRS is going to think Im cheating them ? How do I file since I work full time for a company, I can’t file sole proprietor because 98% of my income is from an employer. This might be more trouble then it’s worth.

Answer: A W-9 form is simply verification for your tax id number (so you are not required to have backup withholding taken)

A W-9 is not to be filed with the IRS but sent back to the requester, and in this case the bank.

“How do I file since I work full time for a company”

Unless you are on payroll, you are not considered an employee in the eyes of the company you’d work for. You’d have to declare all payments made by the company to you on Schdule C in gross amounts.

Offshore accounts are on IRS radar

share: digg facebook twitter The Internal Revenue Service is on the warpath, seeking large financial accounts of U.S. citizens and residents held overseas. Come forward now, the tax collection agency says, and pay any penalties and back taxes. The IRS recently started its second amnesty program, which invites voluntary disclosure of offshore money and its income. A Las Vegas-style bookie …

Taxes: Odds of an Audit

NOTICE TO ELISA´S ANNUAL GENERAL MEETING

ELISA STOCK EXCHANGE RELEASE 11 FEBRUARY 2011 AT 8.01 amNOTICE TO THE ANNUAL GENERAL MEETINGNotice is given to the shareholders of Elisa Corporation (the “Company”) to the Annual General Meeting to be held on Friday, March 25, 2011 at 2:00 p.m. …

Less Than Kind Tax Audit

Nonprofit hospitals pay taxes if bill passes

State Rep. Keith Regier, a Kalispell Republican who represents House District 5, has sponsored House Bill 305, a law that would eliminate property tax exemptions for most nonprofit hospitals, includin

Fiscal Commission Public Forum 4 of 7

Question: IRS sweating me?

I’ve become the lucky chosen victim of an audit for the year of 2006. I think my donation deductions may have tipped them off or something. Anyway, they want proof of my deductions and questioning my head of household status. Well, I can prove my deductions but I’m concerned about the head of household issue. They want to see a copy of my townhome lease agreement but my lady is on there too. Since we’re not married we of course file seperately and she files head of household also. Would that bring her in the picture to be sweated by the IRS because I don’t know if two people can be head of one household. I’m gonna just take one behind the bushes on the head of household issue and just pay that portion back if she’s at risk. What’s the JettMan to do??
Sorry for being so vague. My lady and I have a son together so she files him. I file my two other children from a much much previous relationship, which I have done for years now in agreement with the mother.

Answer: I don’t see any problem.
You and your lady both rent a townhome, and share the rent. (It is always better economically to rent a bigger apartment than renting two small apartments).
You are not married.
Each one of you supports a qualifying child. You support your two children and she supports her son. Both of you have paid more than half of the expenses of keeping a home.
So both of you can put your status as Head of household.

Clark Atlanta defends million-dollar presidential payout

Clark Atlanta defends million-dollar presidential payout

Bruce Hacker, CPA – Advice for REALTORS – S Corp

Question: what is the best web site to use to file your taxes? do you need to submit your w2s?

Hello all. I was going to file my taxes this year by using e file or another website, which do you recommend? I am not happy at all with HR block. They DO NOT stand behind their peace of mind guarantee. I was audited due to a mistake that their preparer made. When push came to shove we owed the IRS a little over a $1000 when i asked the manager she said that they would pay the interest acquired on the debt that is all. because i signed my taxes stating every thing was correct it then became my responsibility…umm no isn’t that what i paid them for, because i wasn’t a professional? any who…could you please tell me which website is the best and do i need to submit our w2s if i use one of those sites

our returns are simple. he has worked one job, i don’t work, we have no assets. no mortgage, and we have 2 dependents. any help will be appreciated

Answer: Sorry to hear about your difficulty. HR Block offers a standard guarantee which is included with the price of the preparation. The standard guarantee will pay penalties and interest if Block makes an error. The extended service plan or Peace of Mind will pay penalties, interest and additional tax up to 5,000 due to HR Block error. Remember, your preparer is preforming due diligence during the tax interview and during the tax preparation process. The veracity of the information you provide is the responsibility of the tax payer. Good luck

Hart: A taxing adventure

ALECIA WARREN/Press Panhandle Pachyderm member Ruthanne Coleman shakes hands with Rep. Phil Hart, R-Athol, after his speech for the club at Garden Plaza senior living facility on Friday.

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