* While written specifically for one profession,
“Snap A Pic of These Tax Deductions Photographers Can Take” from the TURBO TAX
BLOG gives all self-employed taxpayers an idea of what is deductible.
* More evidence that bloggers love lists – “44 Sources Of Money & Benefits That You Don't Have To Pay Taxes On” from TaxGirl
Kelly Phillips Erb at FORBES.COM.
A reminder –
be aware that the answer to just about every tax question, including “is it
taxable?”, is “it depends”.
* And, oi
vey, a warning from KPE – “Don’t Mistake Your Stimulus Debit Card For Junk Mail”.
In a time of
stupid ideas – the ultimate one being that a totally self-absorbed reality tv
cartoon clown would be an acceptable choice for President – using debit cards for
this purpose is certainly another one.
* For those of
you who are interested, ACCOUNTING WEB explains “How to Keep on Top of Taxes for Household Workers During COVID-19”.
* According to IR-2020-107 –
“The Internal Revenue Service announced today that
later this summer taxpayers will for the first time be able to file their Form
1040-X, Amended U.S Individual Income Tax Return, electronically using
available tax software products.”
Unfortunately, electronic submission of 1040-X
returns will require flawed and expensive tax preparation software.
* The NATP BLOG updates us on “IRS’s Economic Impact Payment data as of May 2020” -
“Approximately 130 million Americans received
payments worth more than $200 billion in the Economic Impact Payment program’s
first four weeks, according to the IRS.”
THE LAST WORD
“If you are not a liberal at 25, you have no heart.
If you are not a conservative at 35 you have no brain.” Winston Churchill (?)
“If you support and vote for Trump, and those who
support him, you have no heart AND no brain.” Robert D Flach
TTFN
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