The IRS has announced that it will allow taxpayers to file their 2015 tax returns, even though they may not receive their Health Care information, and will not have to will file an amended return if there are discrepancies, as long as they rely on other reasonable sources. IRS Notice 2016–4 states “Nonetheless, some employees …
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There is a previous post in which I discuss whether anyone could be an independent contractor, given the current governmental “push” to reclassify them as employees. Now the Department of Labor has come out with the new interpretation in which they are moving away from the 20 point test that has been used for years. …
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Following up my previous post, the IRS has now sent out new letters telling everyone they had the wrong date on the previous letter, as I discussed. I wonder how much that cost in postage? Or are they just subsidizing the U S Postal Service?
It was announced this week that letters were sent out giving taxpayers an identity theft pin number for filing their 2015 tax returns. Unfortunately, they did not do enough proofreading and the letters say that the pins are supposed to be used for filing the 2014 tax returns which have come and gone, rather than saying …
I received a fake IRS phone call this morning and I had to smile because I was pulling into the driveway of a client for an IRS audit. If they had called 10 minutes later, I could’ve handed the phone to a real IRS agent. The person on the phone call stated – This is …
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IR-2015-133, Nov. 24, 2015 WASHINGTON —The Internal Revenue Service today simplified the paperwork and recordkeeping requirements for small businesses by raising from $500 to $2,500 the safe harbor threshold for deducting certain capital items. The change affects businesses that do not maintain an applicable financial statement (audited financial statement). It applies to amounts spent to …
Scammers are very creative – don’t be sucked in. If you think something is wrong or doesn’t feel right, trust your instincts. If you get contacted by someone you know add the email seems off, don’t be afraid to send a clean email (a new email with the address taken from your address book, don’t …
Your child is going away to college and you want to make sure you have care of everything for them. You’ve gotten them the basic supplies they will need and figured out a way to quickly get them money when they need it (notice I say when, not if) using an ATM card or a low credit …
Continue reading ‘College Students Need an Estate Plan Too’ »
Here is a link for questions about the new CA sick leave policy: EDD website #sicktime #CAnewlaw
The more I work with the EDD and see the court cases, the more I think the answer the question is – NO, you cannot be an independent contractor in California! The IRS has a 20 point test to figure out whether you are an independent contractor or an employee. Some of the things it …
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