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trishmc
Small town Kansas
I am a tax professional and business owner
Interests: business, web design, directing and acting, and of course - taxes
Recent Activity
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It’s bad enough to lose a court case that most expected they would win but now the IRS is paying more than they ever took in from the RTRP test. Almost $8 million more. From an IRS notice: The IRS... Continue reading
Posted yesterday at Our Taxing Times
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Congratulations Graduates and parents. I wish you good fortune in your future. Graduation is one of life’s major changes. And as with any life changes there are tax issues to be considered. Dependency Exemption Whether the graduation is from high... Continue reading
Posted yesterday at Our Taxing Times
Trying something new. If it works, I'll use it occasionally for posts. If it doesn't work, I'll just post the link. Continue reading
Posted May 12, 2015 at Our Taxing Times
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Now that the actual filing season is over it’s time to start planning for your 2015 tax year. For many taxpayers, that means looking at their withholding. Too large a refund or a balance due might mean the need to... Continue reading
Posted May 7, 2015 at Our Taxing Times
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The most dreaded words in modern society - the computer is down. Mine is down, again. I guess it wants a vacation because it keeps turning itself off. It had done this during tax season but my helpful tech guy... Continue reading
Posted May 4, 2015 at Our Taxing Times
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Ahhhhhhhhhhh….. Quiet today! Yesterday (April 15th) was a manic depressive kind of day. It would be calm for a while then everyone would call or come by at the same time. (There were the three last minute changes to completed... Continue reading
Posted Apr 16, 2015 at Our Taxing Times
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Here we go. It’s April 15th and your income taxes are due today. I have a few reminders and suggestions. Not about preparing your taxes but other tax stuff. If your taxes are not done, I suggest filing an extension... Continue reading
Posted Apr 15, 2015 at Our Taxing Times
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A few responses to questions I got today (some I wished I said): Yes, I know that Wednesday is April 15th. I’ve actually had that figured out for quite a while now. Where have you been? It’s been all over... Continue reading
Posted Apr 13, 2015 at Our Taxing Times
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Had a client present me with a balance sheet for his business recently that had a negative balance on all the business bank accounts. Since he didn’t handle the books he checked into it for me. The answer he got... Continue reading
Posted Apr 8, 2015 at Our Taxing Times
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The Premium Tax Credit (PTC) is now generating IRS letters. The PTC is part of Affordable Care Act which pays part of the health insurance premium for qualified taxpayers. They sign up through one of the Health Insurance Marketplaces (HIM)... Continue reading
Posted Apr 5, 2015 at Our Taxing Times
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The IRS has a lot of penalties. In fact, they have a handbook dedicated to penalties. Luckily, most taxpayers won’t face most of them. There are two that the average taxpayer can find added to their balance due and I... Continue reading
Posted Apr 3, 2015 at Our Taxing Times
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April Fools Days means that there are two weeks and counting until your 2014 income tax returns are due. So, here are a few tips and reminders to make everyone’s tax life easier the next two weeks …and beyond. If... Continue reading
Posted Apr 1, 2015 at Our Taxing Times
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It happens; you owe the IRS or a state income tax. What do you do? You actually have a variety of options available to make your payment. You can send a check or money order, pay online or set up... Continue reading
Posted Mar 29, 2015 at Our Taxing Times
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This is not the time of the year to P*** off your tax pro! Do I have your attention? For the last two months, I have been able to help a lot of good people meet their tax filing requirements.... Continue reading
Posted Mar 21, 2015 at Our Taxing Times
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There are just a little over three weeks left before April 15th and I’ve been busy with tax returns. However, there have been a few tax items that need to be pointed out now. The IRS has started sending out... Continue reading
Posted Mar 20, 2015 at Our Taxing Times
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There is a little more than 3 weeks left before your 2014 tax return is due. What if you can’t get your return done in time to file by then? You can file an extension. It can be done electronically... Continue reading
Posted Mar 20, 2015 at Our Taxing Times
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Did your paid preparer (notice I didn’t say tax pro) tell you that you owed a Shared Responsibility Payment and that you need to write the check to them? If you did, you might be paying it twice. That is... Continue reading
Posted Mar 13, 2015 at Our Taxing Times
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It seems that I am seeing more back year returns this year. I don’t track them so I can’t be sure. But it sure feels like I’m doing more. There a lot of good reasons to get your back returns... Continue reading
Posted Mar 11, 2015 at Our Taxing Times
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Super busy but this needs to get out. A month ago, Intuit stopped filing state tax returns for a few days because of reports that taxpayers were getting notices that state returns had been filed using their SSN and names... Continue reading
Posted Mar 9, 2015 at Our Taxing Times
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I don’t know why I even looked at the email. It was from i-Books announcing the new releases for March. As I scrolled down the list, a blurb caught my attention. “This intriguing political thriller raises questions about income taxes.”... Continue reading
Posted Feb 28, 2015 at Our Taxing Times
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The IRS and the Urban Institute’s National Center for Charitable Statistics (NCCS) have announced that NCCS’s system has been hacked and the information compromised. The NCCS handles the online filing of Forms 990, 990EZ and 990N for the IRS. Information... Continue reading
Posted Feb 26, 2015 at Our Taxing Times
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In recent years there has been a big push to add extra taxes to sugary soft drinks and snacks. The idea behind the proposed taxes is to counter the American trend to obesity. Last November, Berkley, CA became the first... Continue reading
Posted Feb 25, 2015 at Our Taxing Times
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Your 2014 federal income taxes are done but you owe a lot more than you thought you would. In fact, you don’t think that you can scrap the money together to pay the IRS by April 15, 2015. In that... Continue reading
Posted Feb 24, 2015 at Our Taxing Times
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When I started doing tax returns the tax code was only 12 pages long and we used an abacus, papyrus and quill pens to prepare return. Okay that may be an exaggeration. But I have been preparing return s for... Continue reading
Posted Feb 24, 2015 at Our Taxing Times
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The Affordable Care Act (ACA) aka Obamacare is still making news. The Administration has announced that approximately 800,000 taxpayers who enrolled through one of the Health Insurance Marketplaces (HIM) received an incorrect Form 1095-A. The form gives taxpayers the information... Continue reading
Posted Feb 21, 2015 at Our Taxing Times