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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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There will be taxpayers who will get a nasty surprise when they have their income taxes prepared and find that they have to pay back part or all of their Premium Tax Credit (PTC). The PTC is available for taxpayers... Continue reading
Posted yesterday at Our Taxing Times
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It’s time for my annual reminder – You Have To Wait For Your W-2s, 1099S, 1095-A (and any other tax information form you know you should get.) Sorry, I know it’s frustrating to wait when all your friends are talking... Continue reading
Posted 3 days ago at Our Taxing Times
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If one of your New Year’s resolutions was to start saving more, especially for retirement, you should look into the new Department of the Treasury program, myRA. myRA was announced in President Obama’s 2014 State of the Union address but... Continue reading
Posted 6 days ago at Our Taxing Times
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You know that you’re getting a Federal refund. What should you do with that money? Honestly, many taxpayers have that money spent before they get their return prepared. But if you’re planning to put all or part of that refund... Continue reading
Posted 6 days ago at Our Taxing Times
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Tis the season…for tax refunds! E-filing 2014 tax returns began today and over the next few weeks taxpayers will be happily filing their returns to get their refund (after that the refunds get fewer and smaller.) Once upon a time,... Continue reading
Posted 7 days ago at Our Taxing Times
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Don’t want or can’t pay a tax pro to do your tax return? You have some options. There are a stack of commercial programs and online sites to choose from that will help you prepare your income taxes. Most walk... Continue reading
Posted Jan 19, 2015 at Our Taxing Times
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As if all the new credits, penalties and reporting requirements surrounding the Affordable Care Act are not confusing enough, there is one more tax issue to explain. If taxpayers share a policy through a Health Insurance Marketplace (HIM), they may... Continue reading
Posted Jan 16, 2015 at Our Taxing Times
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Pop Test! One question; what is a simple tax return? Correct answer; whatever return the caller has. Their goal is to get you to under price the return. This will be something they will hold you to no matter how... Continue reading
Posted Jan 15, 2015 at Our Taxing Times
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Unless you are a non-resident alien and use a Form 1040NR, you might have the choice of using one of the three 1040 forms, 1040EZ, 1040A and 1040. Which form you can use depends on your circumstances; income, deduction and... Continue reading
Posted Jan 15, 2015 at Our Taxing Times
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You’re thinking about your taxes. I know you are because some of you have called me asking questions. You still need to wait for your W-2s and 1099s so while you wait you might want to gather up other information... Continue reading
Posted Jan 13, 2015 at Our Taxing Times
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Thanks to Taxgirl (Kelly Phillips Erb) for the warnings to look for in choosing a tax preparer. I usually write a post along these lines each season but I couldn’t say it better. Thanks Kelly! The IRS also has a... Continue reading
Posted Jan 11, 2015 at Our Taxing Times
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Yesterday morning I answered the phone and listened to an automated call supposedly from the IRS. A very badly done automated call. Needless, to say I hung up. I guess that some people are still responding to theses calls and... Continue reading
Posted Jan 9, 2015 at Our Taxing Times
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Years ago, even before I started my own office, someone gave me this list - 20 Things I’ll Do Differently Next Tax Season. I found it when I was cleaning the office for this season. It’s a great reminder as... Continue reading
Posted Jan 7, 2015 at Our Taxing Times
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This is for all taxpayers who treat their Individual Retirement Accounts (IRA) as a short term loan source; beginning in 2015 you can only make one rollover yourself a year. Before 2015, taxpayers could rollover funds from each IRA into... Continue reading
Posted Jan 6, 2015 at Our Taxing Times
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On January 3, 2003, I officially opened my office. I'd been open while I set up but the 3rd is the date I gave the Chamber of Commerce as the day I opened. While I had been preparing tax returns... Continue reading
Posted Jan 3, 2015 at Our Taxing Times
The health insurance requirements of the Affordable Care Act started in 2014 and this post is the third of three articles which will outline what most taxpayers will need to know to be compliant for 2014. If the taxpayer doesn’t... Continue reading
Posted Dec 31, 2014 at Our Taxing Times
The health insurance requirements of the Affordable Care Act started in 2014 and this post is the second of three articles which will outline what most taxpayers will need to know to be compliant for 2014. Part of the Affordable... Continue reading
Posted Dec 30, 2014 at Our Taxing Times
The individual health insurance requirements of the Affordable Care Act started in 2014 and this post is the first of three articles outlining what most taxpayers will need to know to be compliant for 2014. All US citizens or permanent... Continue reading
Posted Dec 29, 2014 at Our Taxing Times
Congress's delay in passing the tax extender bill has not delayed the 2014 filing season. The IRS has just announced that e-filing will re-open in Tuesday January 20th. They will alos begin processing paper returns at that time. BUT... even... Continue reading
Posted Dec 29, 2014 at Our Taxing Times
2014 will see a major change in the itemized deductions for Kansas income tax returns and the increase in the “haircut” on most itemized deductions. On 2013 tax returns, Kansas had a 70% limit on most of the itemized deduction... Continue reading
Posted Dec 23, 2014 at Our Taxing Times
Do you know how much your dependents earned in 2014? I would strongly suggest finding out before you get your own tax return prepared this year. Every year I write a post asking parents to check their children’s W-2 or... Continue reading
Posted Dec 18, 2014 at Our Taxing Times
Congress passed the Achieving a Better Life Experience (ABLE) act of 2014 on Tuesday (12/16/15) when it voted on the tax extender bill. This bill creates a new tax free account that can be used to help with disability expenses... Continue reading
Posted Dec 17, 2014 at Our Taxing Times
The Senate has finally passed a one year extension of the “tax extenders”. The House passed the bill last week and President Obama is expected to sign the bill. What are “tax extenders?” These are a bunch tax provisions which... Continue reading
Posted Dec 17, 2014 at Our Taxing Times
Unless you’ve been under a rock, you should know by now that the IRS has released their new voluntary tax preparer program. The new program is designed to be in place January of 2015. The IRS is using this voluntary... Continue reading
Posted Jul 6, 2014 at Our Taxing Times
…less chance of notices from the IRS or a state. I e-file everything I can. It’s quick, easy and more accurate than paper filing. The accuracy is important to me because I hate responding to tax notices. It’s bad enough... Continue reading
Posted Jun 26, 2014 at Our Taxing Times