Categotry Archives: Taxes

Protected: Duties of CID Employees

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Do You Have a Privileged Relationship? Not With Your CPA!

So, have you heard any juicy stories lately? Have you told any? You know, like that income you forgot to report on your tax return, or fake deductions you took on your business?  Do you think you have a privileged relationship with your CPA? Whatever you do, don’t tell me! I don’t want to hear it! Yes, even though I am a CPA and am fully qualified to help you with your tax problems, please do not tell me your […]

August – The Time (not) to Buy…

In August, there are usually lots of sales on things like school supplies, and it doesn’t take much shopping around to find good deals in that area. Also, in some states (like here in Texas), there are sometimes “tax holidays” for school supplies, which sometimes extends to other items such as children’s clothing. Depending on the sales tax rate, this can be a substantial incentive to buy these items. However, there are several things that are typically a better bargain […]

Choosing Your Entity Type

Choosing Your Entity Type

Self-Employment can be complicated! One of the best things you can do for yourself, if you have any sort of side gigs, blogging for money – any type of self-employment income, is to formalize the relationship of your work, by choosing your entity type. As an individual, you can easily file a Schedule C, using your regular 1099 income, deducting the direct expenses, and being done with it. If, however, you want a better tax environment, you might want to […]

Why You Should Loan Money to the Government

I’m a contrarian – that’s something you will probably always be able to say about me, and something you are likely to notice right off the bat. First, I start out telling you it’s okay to throw away food, and now, well, let’s see what anti-conventional wisdom I am coming up with next.  But before I go any further, let me just be very clear on a few things:  No matter what you think about taxes, whether they are fair […]