Comments for The Missouri "taxguy" http://themotaxguy.com Federal taxes, tax preparation, and your personal finances - Guest Authors are welcome. Wed, 28 Dec 2011 00:59:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on What Should Non-Filing Taxpayers Do? by Bruce Mc http://themotaxguy.com/what-should-non-filing-taxpayers-do/#comment-2048 Bruce Mc Wed, 28 Dec 2011 00:59:34 +0000 http://themotaxguy.com/?p=4051#comment-2048 Steven, Thanks for your thoughts. I am with you 100%. I tell everyone, file your return even if it is just an informational return, if you owe, can’t pay them, file… At some point one will wish they had. Steven,
Thanks for your thoughts. I am with you 100%. I tell everyone, file your return even if it is just an informational return, if you owe, can’t pay them, file… At some point one will wish they had.

]]> Comment on What Should Non-Filing Taxpayers Do? by Steven J Fromm http://themotaxguy.com/what-should-non-filing-taxpayers-do/#comment-2047 Steven J Fromm Wed, 28 Dec 2011 00:44:54 +0000 http://themotaxguy.com/?p=4051#comment-2047 The tax code provisions are stacked against the non-filer. I tell anyone who will listen that one should always, always, always file their returns timely even if they cannot pay one dime with the return. Taxpayers do not realize that there is a failure to file and a failure to pay penalty along with interest and penalties. Additionally, chronic non-filing can result in civil and sometimes criminal tax penalties and jail. So you offer sound advice to non-filers. Get all your returns completed and file them immediately. Talk with a tax attorney if their are some special facts or tax situations; if not at least get the assistance of good tax accountant. But from now until the day you die repeat after me: "I will always file my tax returns timely!" The tax code provisions are stacked against the non-filer. I tell anyone who will listen that one should always, always, always file their returns timely even if they cannot pay one dime with the return. Taxpayers do not realize that there is a failure to file and a failure to pay penalty along with interest and penalties. Additionally, chronic non-filing can result in civil and sometimes criminal tax penalties and jail.
So you offer sound advice to non-filers. Get all your returns completed and file them immediately. Talk with a tax attorney if their are some special facts or tax situations; if not at least get the assistance of good tax accountant.
But from now until the day you die repeat after me: “I will always file my tax returns timely!”

]]> Comment on Bill Tracking in QuickBooks by Bookkeeper http://themotaxguy.com/bill-tracking/#comment-2042 Bookkeeper Mon, 12 Dec 2011 16:14:41 +0000 http://themotaxguy.com/?p=3832#comment-2042 For me the most problematic thing is to tract invoices (bills) and payments. For example when payment is received, at first I need to find corresponding invoice and compare the sum invoice with received sum. There may be situation that payer is not the same person to what invoice is issued. Also there may be situation that payer pays invoices partly. For example, one payment - part of invoice No.1, then next payment - again part of invoice No.1, then third payment - remaining part of invoice No1 and part of invoice N02. If many transaction partners and many invoices, then recording of payments and comparing to invoices will take a lot of time. It would be good to get to know how to do all things faster... For me the most problematic thing is to tract invoices (bills) and payments. For example when payment is received, at first I need to find corresponding invoice and compare the sum invoice with received sum. There may be situation that payer is not the same person to what invoice is issued. Also there may be situation that payer pays invoices partly. For example, one payment – part of invoice No.1, then next payment – again part of invoice No.1, then third payment – remaining part of invoice No1 and part of invoice N02. If many transaction partners and many invoices, then recording of payments and comparing to invoices will take a lot of time.
It would be good to get to know how to do all things faster…

]]> Comment on What if You Default on Your IRS Payment Plan? by Lynnea Bylund http://themotaxguy.com/default-irs-payment-plan/#comment-2037 Lynnea Bylund Mon, 28 Nov 2011 07:57:01 +0000 http://themotaxguy.com/?p=4033#comment-2037 Thorough, you covered all of the salient points that trip up so many default IRS debtors. If taxpayers paid a little more attention there would be far fewer defaults. Thorough, you covered all of the salient points that trip up so many default IRS debtors. If taxpayers paid a little more attention there would be far fewer defaults.

]]> Comment on What to Do When You’re Struggling With Taxes by M Berry http://themotaxguy.com/struggling-taxes/#comment-2031 M Berry Tue, 08 Nov 2011 16:21:37 +0000 http://themotaxguy.com/?p=3901#comment-2031 Bruce, thank you for your article, it was very entertaining. One of the biggest trends my office is seeing lately is people with past year taxes. Bruce, thank you for your article, it was very entertaining. One of the biggest trends my office is seeing lately is people with past year taxes.

]]> Comment on What to Do When You’re Struggling With Taxes by JG Larvan http://themotaxguy.com/struggling-taxes/#comment-2020 JG Larvan Mon, 17 Oct 2011 03:02:45 +0000 http://themotaxguy.com/?p=3901#comment-2020 I agree. Playing hide-and-seek with the IRS will only make it worse and could lead you to more grave consequences. I agree. Playing hide-and-seek with the IRS will only make it worse and could lead you to more grave consequences.

]]> Comment on What to Do When You’re Struggling With Taxes by JG Larvan http://themotaxguy.com/struggling-taxes/#comment-2019 JG Larvan Mon, 17 Oct 2011 03:01:50 +0000 http://themotaxguy.com/?p=3901#comment-2019 I agree. Playing hide-and-see will only make it worse and could lead you to more grave consequences. I agree. Playing hide-and-see will only make it worse and could lead you to more grave consequences.

]]> Comment on Handling Gambling Winnings by ABA Accountant http://themotaxguy.com/handling-gambling-winnings/#comment-2017 ABA Accountant Fri, 14 Oct 2011 21:43:19 +0000 http://themotaxguy.com/?p=3074#comment-2017 Great info! I recently posted on my blog about gambling winnings and the importance of recording them correctly. Could be helpful for your readers. Check it out here: http://blog.avoidbeingaudited.com/2011/03/16/gambling-winnings-how-to-record-them-correctly/ Thanks, Avoidbeingaudited.com Great info! I recently posted on my blog about gambling winnings and the importance of recording them correctly. Could be helpful for your readers. Check it out here: http://blog.avoidbeingaudited.com/2011/03/16/gambling-winnings-how-to-record-them-correctly/

Thanks,
Avoidbeingaudited.com

]]> Comment on What to Do When You’re Struggling With Taxes by John Salan http://themotaxguy.com/struggling-taxes/#comment-1903 John Salan Sat, 24 Sep 2011 19:22:36 +0000 http://themotaxguy.com/?p=3901#comment-1903 Hi Bruce, I love your blog. Just a heads up that this article is inaccurate as an Offer In Compromise is not a repayment plan and it generally will not involve high penalties or penalties at all. I will gladly write you a better article than this. Best, John Hi Bruce,

I love your blog. Just a heads up that this article is inaccurate as an Offer In Compromise is not a repayment plan and it generally will not involve high penalties or penalties at all.

I will gladly write you a better article than this.

Best,

John

]]> Comment on Save for College Tax-Free by JoeTaxpayer http://themotaxguy.com/save-for-college-tax-free/#comment-716 JoeTaxpayer Fri, 15 Jul 2011 21:08:30 +0000 http://themotaxguy.com/?p=3494#comment-716 It's a completed gift. I get that. But when there's a change in either the custodian (account owner) or beneficiary, is that a (gift-)taxable event? Else, I can gift to the limit to multiple people, then change beneficiaries. It’s a completed gift. I get that. But when there’s a change in either the custodian (account owner) or beneficiary, is that a (gift-)taxable event?
Else, I can gift to the limit to multiple people, then change beneficiaries.

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