USING YOUR CAR FOR BUSINESS

 

Do you use your car for business?  Here are some things you should know.

 

(1) Thanks to the GOP Tax Act, for tax years 2018 through 2025 employees can no longer deduct employee business expenses if they itemize on Schedule A.  This includes business use of your personal automobile.  Only self-employed individuals are allowed to deduct the cost of using their car for business travel.

 

(2) If you use your car for business you must keep “contemporaneous” records of your business mileage. This means that you should record the information on the day the trip occurs.  Record each individual business trip separately. Enter the date, location, business purpose and miles driven for each trip in some kind of diary, account book, or expense log. If you do not have EZ Pass you should also note any toll expenses. If you do have EZ Pass, you can identify tolls for business trips on the monthly statement.  I also enter in my travel log the quarter I put in the parking meter while visiting a client or vendor or attending CPE activities.

 

In addition to the business miles driven for the year you will also need to know the total of all miles driven for the year.  You should start off the year by entering the total miles on your car on the morning of January 1st in your log – and end the year by entering the speedometer reading after your last trip on December 31st. If you sell the car during the year, enter the total miles on the date of sale and enter the beginning mileage on your new car on the day you drive it off the lot.

 

And you should keep a contemporaneous car maintenance log to record all related expenses for the year – gas, oil changes, tune-ups, repairs, car washes, etc.  The reason is explained in item #3.  

 

(3) You have two options for deducting business use of your car. The simplest way is by using the Standard Mileage Allowance rate.  You multiply the number of business miles driven for the year by this rate.  The rate is set annually by the Internal Revenue Service, based on the variable costs as determined by a study conducted by Runzheimer International.

 

This standard mileage allowance rate applies no matter where in the United States you drive, and no matter what type, model or make of car you drive.  It is available for a car you own or a car that you lease.  It covers all the normal expenses of operating a car, including depreciation, but does not include auto loan interest or state and local personal property taxes.  As a self-employed taxpayer you can deduct the business share of auto loan interest and any related state and/or local personal property tax paid on the auto on Schedule C in addition to the standard mileage allowance.

 

You can also choose to instead claim the business use percentage of the total cost of maintaining your car, which includes –

 

•        auto club membership

•        depreciation

•        gasoline

•        insurance

•        license and registration

•        lease payments

•        repair and maintenance

•        tires

•        wash and wax

 

If you drove a total of 20,000 miles for the year and you have logged 15,000 miles for business purposes you can deduct 75% of these expenses.  There are special limitations on the deduction for depreciation.

 

It is a good idea to keep a car maintenance log to record all related expenses for the year – gas, oil changes, tune-ups, repairs, car washes, etc. – so you will have the information available to make an informed decision on what method to use. This is especially important for a new car, or for the first year you are deducting business use of a car.

 

Obviously, you want to use the method that gives you the greatest tax deductions over the life of the vehicle. 

 

Generally, in order to claim the standard mileage allowance, you must elect to do so in the first year the car is “placed in service” (the year you purchase the car or the first year you use the car for business).  If you claim the standard mileage allowance in the first year you can switch to actual expenses in a later year.  But if you claim actual expenses in the first year you may not be able to use the standard mileage allowance in later years.

 

If you choose to claim the standard mileage allowance on a leased car in the first year of the lease you must use it for the entire period of the lease.

 

The above was taken from my book “AN INTRODUCTION TO SELF-EMPLOYMENT: THE BASICS OF SCHEDULE c”.  If you are planning to start a small business, become a self-employed consultant or engage in any kind of “side hustle” this is a must read.  For more information go here.

 

TTFN

IF AT FIRST YOU DON’T SUCCEED TRY, TRY AGAIN

On January 13, 2020, NJ Governor Murphy signed into law “The Pass-Through Business Alternative Income Tax Act”.  This act allows NJ “pass-through” businesses such as partnerships, sub-S corporations and sole proprietorships to elect to pay an entity-level alternative tax and provide partners, shareholders and the proprietor with a tax credit on the NJ-1040.

The new alternative tax election is effective for taxable years of the pass-through entities beginning on or after January 1, 2020.  This does not affect 2019 tax returns.

This is clearly another attempt by NJ to work around the federal $10,000 state and local tax (SALT) itemized deduction limitation enacted by the GOP Tax Act by changing a (perhaps) non-deductible individual income tax into a (hopefully) deductible state business income tax.    

The first attempt failed.  In May of 2018 Murphy signed legislation that would allow a taxpayer to donate to a charitable fund established by their municipality, county or school district. In return for their donation, the taxpayer would receive a credit on their property tax bill of up to 90 percent of the donation.  The assumption was the taxpayer could deduct the full amount of the donation as a charitable contribution on Schedule A, effectively providing a back-door deduction for the property tax.  The IRS was quick to point out that any deduction for a contribution to such a charitable fund must be reduced by the amount of the property tax credit received under the federal Trump (new synonym for “quid pro quo”) rule.  Only 10% of the donation is allowed as an itemized deduction.

I am not sure what the practical implementation of this new law on NJ tax returns will look like.  While NJ partnerships and S-corporations already file a tax form on which they can elect to pay the tax, will sole proprietors who file a federal Schedule C now have to file a new separate NJ business tax return to pay the tax? 

From what I have found in an initial online search the tax the pass-through entity will pay is -

1) 5.525% tax on the first $250,000 of distributive proceeds  

2) 6.37% tax on distributive proceeds between $250,000 and $1M  
3) 8.97% tax on distributive proceeds between $1M and $3M
4) 10.75% tax on distributive proceeds over $3M.

The above tax rates mirror the higher end of the current NJ tax rates for Form NJ-1040. 

I will be interested to see how the IRS responds to this new attempt to help NJ taxpayers evade federal income tax.  It is clear what NJ is doing, and the Service will certainly understand this.  I would think in order for this scheme to work NJ would have to make the entity-level tax mandatory and not optional and exempt from taxation on the NJ-1040 the pass-through income from NJ-based partnerships, sub-S corporations and net profits from business (federal Schedule C).

I will certainly to have more to say about this new tax scheme after the tax filing season when more information becomes available.

TTFN

THIS JUST IN!

The updated 2019 version of my e-book for Kindle AN INTRODUCTION TO SELF-EMPLOYMENT: THE BASICS OF SCHEDULE C is now available at Amazon.com for ONLY $7.99.

Click here to check it out.

WHEN CHOOSING A BUSINESS ENTITY DON’T FORGET FICA TAXES

An often-overlooked issue when deciding on the type of entity to choose to operate your one-person or closely-held business is the FICA or FICA-equivalent tax (self-employment tax).

If you operate as a sole-proprietor, filing a Schedule C, (or as a partnership) your FICA-equivalent self-employment tax is calculated on net earnings from self-employment BEFORE deducting health insurance premiums and retirement plan contributions.

The net amount on your Schedule C is $100,000.  You also deduct $24,000 in self-employed health insurance and a $15,000 contribution to your SEP retirement plan as adjustments to income.  So, your net “out of pocket” is $61,000.  Your self-employment tax is $14,130 - $100,000 x .9235 = $92,350 x 15.3% = $14,130.  The Schedule C filer is entitled to a tax deduction, as an “adjustment to income”, of $7,065 for half of the self-employment tax.

If you operate as a corporation and take $55,000 as a salary your FICA tax is $4,207.50 - $55,000 x 7.65% = $4,207.50.  The corporation matches this and also pays $4,207.50, so the total cost is $8,415.  As a corporation you are $3,000 -$5,000 less (the $5,715 in reduced FICA tax less the tax savings you would have received from the self-employment tax adjustment to income) out of pocket.

If the business has a $100,000 net gain, as per the Schedule C, and pays out $55,000 in wages, $39,000 in employee benefits (the owner’s health insurance premiums and pension contribution) and $4,208 in FICA tax the net taxable income of the corporation is $1,792.  The federal corporate income tax if a “C” corporation is $376.  If it is an “S” corporation the taxpayer may be allowed an additional $358 “Section 199a” deduction and pay federal income tax as an individual on $1,434 - $315 for a taxpayer in the 22% bracket.

Clearly the Schedule C filer pays substantially less in FICA-equivalent taxes than the corporation pays in FICA taxes.

However, regarding the 20% Section 199a deduction – for a “C” corporation there is no deduction allowed, for the “S” corporation the deduction is on the net business income reported on K-1 and does NOT include the sole-shareholder’s wages, but for a sole-proprietorship filing a Schedule C the deduction is allowed on the net amount reported on Schedule C less the adjustments to income for self-employment tax, self-employed health insurance and retirement income contributions.  In the above example the taxpayer’s “Qualified Business Income” (QBI) eligible for the 20% deduction is $53,935 - $100,000 less $24,000 less $15,000 less $7,065 = 53,935 – which could result in a deduction that reduces net taxable income by $10,787.

So, a Schedule C filer could pay less federal income tax on his or her net “in pocket”.

Obviously, the payroll tax cost, or the QBI deduction, is not the only consideration to be reviewed when choosing a business entity.  There are additional filing and administrative costs associated with operating as a corporation – when creating the corporation, during its operation, and when terminating/dissolving it.  There will probably be additional state payroll tax costs – unemployment, disability and/or family leave insurance contributions – and may be required worker’s compensation insurance premiums for the owner being paid as an employee that would not exist for a sole-proprietor.  And the management and administration of a corporation is more time consuming and requires more detailed recordkeeping and federal, state and local government filings.

As a point of information – operating as a corporation provides the owner with “limited liability”, but so does registering your Schedule C sole-proprietorship as a “Limited Liability Company” (LLC).  And if you are an LLC you can file your taxes as either a sole proprietor on Schedule C (or as a partnership if more than own owner) or a corporation, either “C” or “S”.

In terms of the Social Security component of the FICA payroll tax, paying the tax on a lower earnings base may affect the benefits you receive when you begin to collect.  In the above example the Social Security earnings for the Schedule C filer is $92,350, but is only $55,000 for the corporate employee.  Social security benefits are based on your 40 highest-earning years.  FYI - there is a maximum wage/earnings cap on the Social Security component of FICA tax, which applies to both wages and net earnings from self-employment.

What I am saying is that choosing a business entity is a serious and complicated matter involving many important issues – both tax and non-tax.  There is no “one size fits all” answer – regardless of what a lawyer may tell you.  When deciding on the entity you should consider the difference in payroll tax costs, and now under the GOP Tax Act the potential savings from the Section 199a QBI deduction.  Do multiple calculations based on various amounts of anticipated income.

And consult a tax professional BEFORE you consult an attorney!

TTFN

QUESTIONS FROM A CLIENT

A client recently emailed me some questions that I think are often asked of tax preparers, especially now with the changes made by the GOP Tax Act.  The answer to these questions, and the debunking of some common misconceptions the answer includes, are important to understand.

Robert -

1. Just wanted to ask you how do you report taxes at end of year on a 1099?  I imagine in this case you report less than if your employer was reporting on a W-2. Please explain what is advantage AND disadvantage?

2. I hear is that when you are working on your own or providing home care you can report whatever you want, but I still want to accumulate for my Social Security.  Am sure in this case you don’t have to pay city taxes or Medicare, etc.

Madame X

My response:

Madame X -

1. Income from a Form 1099 is reported based on the source of the income.  If it is a Form 1099-MISC reporting “non-employee compensation” it is reported on a Schedule C or C-EZ of Form 1040, with deductions for directly related out of pocket expenses allowed.  The net amount is subject to federal and state, and if applicable city, income tax and federal “self-employment” tax, which is the equivalent of both halves of Social Security and Medicare.  A new special tax deduction of 20% of the net income may be allowed.  However, this new deduction does not reduce net income subject to the self-employment tax.

The amount that is reported by the payee on a Form 1099-MISC for non-employee compensation is the same as the amount of gross wages reported for an employee – the gross amount of the payment to you for services provided.  Less income may be actually subject to tax because of the deduction of direct out of pocket expenses related to earning the income.

The advantage of receiving income as a “sub-contractor” on a Form 1099-MISC vs receiving income as an employee on W-2 is the availability of the deduction for directly related out of pocket expenses and the new 20% deduction for “pass-through” business income.  The disadvantage is that you pay both halves of the Social Security and Medicare tax – as an employee you pay half and your employer pays half - although the amount of income on which the self-employment tax is paid may be less than the gross wages reported on a W-2 that are subject to these payroll taxes.

2. It is NOT true that if you are working on your own you can report “whatever you want”.  By law you MUST report WHATEVER YOU RECEIVE in full, whether or not you actually receive a Form 1099-MISC. 

A person being paid for providing home care is a “household employee” of the person who is being cared for.  The person being cared for would need to withhold income and Social Security and Medicare taxes, as any other employer would, and issue the person providing the home care a Form W-2.

As a self-employed person, you would continue to pay into Social Security via the “self-employment tax” and your net income would count toward the determination of Social Security benefits.

RDF

Do you have any questions?

TTFN

THE SECTION 199a DEDUCTION MAKES NO SENSE

The new “Section 199a” deduction – 20% of pass-through business income - created by the GOP Tax Act makes absolutely no sense.

Why does it exist?  The Act reduces the tax rate on regular “C” corporations to 21%. Pass-through businesses – sole proprietors filing Schedule C, partnerships and sub-S corporations – had paid tax on net business income at “ordinary income” rates, as much as 37% under the new rate schedule.  So to make the reduced C corporation rate more palatable Congress felt it had to throw pass-through businesses a bone.

But are C corporation net profits really taxed at only 21%.  A corporation will pay 21% tax on its profits.  When the profits are paid out to shareholders as dividends the individual shareholders include these dividends as income on their personal tax returns.  This is the classic “double-taxation” of corporate dividends.  Qualified dividends are taxed at a lower rate – 0%, 15% or 20%.  Plus, dividends, being investment income, can also be subject to the Obamacare 3.8% surtax.

A taxpayer in the 22% bracket will pay 15% tax on the qualified dividends received.  So, the corporate income represented by the dividend distribution is actually taxed at 36% - 21% and 15%.  If the same taxpayer received the dividend income as a pass-through from a sub-S corporation the tax on $100 would be $18 ($100 - $20 = $80 x 22% = $17.60), or only 18% - half the effective tax on C corporation income.

A person in the top tax bracket would pay 23.8% tax on the dividends – the 20% capital gain rate and the 3.8% Obamacare surtax.  So, the corporate profit would be effectively taxed at 44.8%.  Sub-s pass through income could be taxed at as much as 40.8% (the 20% deduction may not be available).   

Here is what I say should be done.

C corporations should be allowed to claim a tax deduction for “dividends paid” and only pay corporate income tax on the actual “retained” earnings.  Dividends would continue to be taxed on the income tax returns of shareholders.  But since there is no longer any “double taxation” there would no longer be a need for a special tax rate on dividends.  There would be no 20% Section 199a deduction.  So, monies passed through to business owners – either as corporate dividends or pass through business income – would all be taxed at ordinary income rates. 

The inequity in the treatment of corporate income and self-employment income from sole proprietorships and partnerships exists not in the income tax treatment but with the application of the FICA-equivalent “self-employment tax”.  A person who owns a corporation pays himself/herself a salary, subject to FICA tax. The employee pays half the tax and the employer pays half the tax.  The net profits distributed to the owner is in the form of dividends, or sub-S pass through income, which is not subject to self-employment tax.  Employee benefits, such as health insurance premiums and employer pension plan contributions, are not subject to FICA tax.

A sole proprietor and general partner pays self-employment tax – the equivalent of both halves of the FICA tax – on the total amount of “net earnings from self-employment” which is the total net profit reported on Schedule C or the total business income pass through for the general partner, adjusted for half the s-e tax, before any deductions for health insurance premiums or pension contributions.  A large portion of the net earnings from self-employment for sole proprietors and general partners is “wage-equivalent”, but a portion is also “dividend-equivalent”.  

First, health insurance premiums and pension contributions (with the possible exception of the equivalent of 401(k) deferrals) for the self-employed person should be allowed as a deduction in determining net earnings from self-employment.  And only a percentage of the net earnings from self-employment, the percentage representing wage-equivalent earnings, should be subject to the self-employment tax.  It is truly difficult to determine the appropriate allocation of net income to wage earnings and return on investment dividends.  Perhaps using an arbitrary allocation, like 70% wage-equivalent and 30% dividend-equivalent, is the simplest way to go. 

FYI I would also do away with ALL industry-specific loopholes, deductions and credits for ALL business activities, basically taxing ALL business entities on net book profit.  

What do you think?

TTFN

SOME HOLIDAY GIFT IDEAS

I hope you had a successful Thanksgiving.

As today is “Black Friday”, here are some suggestions for Christmas gift purchases -

You can now purchase my book THE JOY OF AVOIDING NEW JERSEY TAXES from AMAZON.COM to read as an e-book on Kindle FOR $9.99.  I share my knowledge and experience from 45 years as a professional tax preparer to help you to learn how to pay the absolute least amount of NJ Gross Income Tax possible.  This is the only book I know of that deals exclusively with tax planning for and preparation of NJ state income taxes

I have also converted my book AN INTRODUCTION TO SELF-EMPLOYMENT: THE BASICS OF SCHEDULE C to e-book format.  It is available from AMAZON.COM for $8.99.

Are you thinking about starting a business – either full-time or part-time? Or will you be starting a business in the near future? This book is an extensive “must-have” guide for the newly self-employed sole proprietor who will be reporting business income and expenses on Schedule C, and also a good source of information and advice for the already existing business. It covers a wide range of topics related to tax planning and preparation for Schedule C filers.

And finally there is SO YOU WANT TO BE A TAX PREPARER, available at AMAZON.COM for $5.99.

I love my profession, and share my advice and comments on the tax preparation business for those who are thinking about becoming a paid tax preparer.  This book can also provide help to tax preparers who would like to expand their practice.  The APPENDIX includes copies of a Code of Ethics, Standards of Professional Conduct, an Engagement Letter and the Tax Professional’s Online Resource Guide.  To read a review of this book click here.  

The first two books each have a compilation of forms, schedules and worksheets that are not included in the Kindle e-book version.  I will email the compilation to those who purchase this version.  Email rdftaxpro@yahoo.com, with KINDLE EBOOK WORKSHEETS in the subject line, and proof or confirmation of purchase “attached”, and I will send you the appropriate forms, schedules and worksheets compilation as a “word document” email attachment.

To order any or all of these e-books go to my AMAZON.COM “Author Page".

For pdf and print editions click here.   

TTFN

A NEW GUIDE FOR SCHEDULE C FILERS

Are you thinking about starting a business – either full-time or part-time – in 2017?  Or will you be starting a business in 2017?

 

The first thing to do is order a copy of my new e-book AN INTRODUCTION TO SELF-EMPLOYMENT: THE BASICS OF SCHEDULE C.

 

This is an extensive “must-have” guide for the newly self-employed sole proprietor who will be reporting business income and expenses on Schedule C, and also a good source of information and advice for the already existing business.

 

It explains such important topics as –

 

ü  THE NEED FOR A SEPARATE CHECKBOOK FOR YOUR BUSINESS

ü  FORMING AN LLC

ü  BOOKKEEPING

ü  SELF-EMPLOYMENT TAX

ü  ESTIMATED TAXES

ü  SELF-EMPLOYED RETIREMENT PLANS

ü  DEDUCTIBLE BUSINESS EXPENSES

ü  THE HOME OFFICE

ü  THE SELF-EMPLOYED HEALTH INSURANCE DEDUCTION

ü  GOOD RECORDKEEPING

ü  PUTTING YOUR KIDS ON THE PAYROLL

ü  TAKING A TAX-DEDUCTIBLE VACATION

 

It also identifies some common bad advice and includes a compilation of online resources for the self-employed and useful forms, schedules, and worksheets for use by the sole-proprietor.

 

The cost of this invaluable guide is only $8.95 delivered as a pdf email attachment.  A print copy sent via postal mail is available for $11.95

 

To order your copy send your check or money order, payable to TAXES AND ACCOUNTING, INC, for $8.95 or $11.95 and your email or postal address to –

 

AN INTRODUCTION TO SELF-EMPLOYMENT

TAXES AND ACCOUNTING, INC

POST OFFICE BOX A

HAWLEY PA 18428

 

TTFN

 

 

 

 

 

 

 

 

 

 

A SPECIAL HOLIDAY OFFER FOR SCHEDULE C FILERS

I have just “gone to press” with the latest bi-monthly issue of ROBERT D FLACH’S THE SCHEDULE C LETTER.

 

In this issue I begin with a year-end tax-planning update and go on to discuss in detail the home office deduction and the new “safe harbor” alternative, the need for a separate checking account for a Schedule C business, and estimated tax payments.

 

A one-year subscription to this bi-monthly (published every other month) newsletter, devoted to advice, information, and resources for the sole proprietor reporting business income and expenses on Schedule C, is $11.95 delivered as a pdf email attachment.  A print edition delivered by postal mail is also available for $24.95.

 

As a special holiday season offer if your order is postmarked by December 24^th you can get a subscription for $7.96 (pdf) or $16.63 (print) – 1/3 off the regular price!

 

My Schedule C Letter would make a great gift for a friend or relative with a sideline business.  Tell me that it is a gift and I will send you a special notice announcing the gift.

 

Click here to download a free copy of the premiere issue of ROBERT D FLACH’S THE SCHEDULE C LETTER (August 2016).

 

To order your subscription send your check or money order for $7.96 or $16.63, payable to TAXES AND ACCOUNTING, INC, and your name and email or postal address (if a gift send the name and email or postal address of the recipient and your name and email address so I can send you the announcement notice) to –

 

DECEMBER SPECIAL OFFER

TAXES AND ACCOUNTING, INC

POST OFFICE BOX A

HAWLEY PA 18428

 

TTFN

ATTENTION SCHEDULE C FILERS

 

VERY, VERY IMPORTANT! 

 

PLEASE READ “MY FELLOW AMERICANS” (click on title) IF YOU ARE THINKING ABOUT VOTING FOR DONALD TRUMP FOR PRESIDENT! AND PLEASE SHARE IT WITH ANYONE YOU KNOW WHO IS CONSIDERING A VOTE FOR TRUMP.

 

IF TRUMP WINS – AMERICA AND THE WORLD TRULY LOSES!

 

I am currently working on the October 2016 issue of my bi-monthly (published every-other month) subscription newsletter ROBERT D FLACH’S THE SCHEDULE C LETTER, written, as the title suggests, for self-employed sole proprietors who report income and expenses on Form 1040 Schedule C.

 

So far the issue will include discussions of self-employed retirement plans, the one-person LLC, and year-end tax planning for self-employment tax.    It also includes some online BIZ BUZZ.  More items will be added before I “go to press”.

 

If I do say so myself, this newsletter is an excellent source of valuable tax planning and preparation advice, information, and resources for someone thinking about starting a sideline business as well as the veteran small businessperson. 

 

You can click here to download a free copy of the premiere August 2016 issue.

 

The regular price for a one-year, 6-issue subscription is $11.95.  But I will make Schedule C filers a special offer.  If your order is postmarked by September 15^th you can purchase a one-year subscription for only $8.95 - a 25% discount!

 

Hey, what have you got to lose?  The special price is about the cost of a one or two evening cocktails (depending on where you live and drink).

 

Send your check or money order for $8.95 payable to TAXES AND ACCOUNTING, INC, and your email address, to –

 

THE SCHEDULE C LETTER SPECIAL TWTP OFFER

TAXES AND ACCOUNTING, INC

POST OFFICE BOX A

HAWLEY PA 18428

 

Thanks for allowing me some "horn-tooting".

 

TTFN

 

 

 

 

 

 

 

 

TAX PLANNING ADVICE AND INFORMATION FOR SCHEDULE C FILERS

I have created a newsletter of tax planning and preparation advice, information, and resources for self-employed sole proprietors reporting income and expenses on Schedule C, based on my 40+ years preparing Schedule Cs, to help you to pay the absolute least amount of income and self-employment tax possible for your particular situation.

The newsletter is ROBERT D FLACH’S SCHEDULE C LETTER.

This newsletter is a great resource for someone thinking about starting a sideline business as well as the veteran small businessperson. 

Published every-other month, also included in each issue will be unique forms, logs and worksheets to help document your Schedule C tax deductions and to help organize and gather the tax information needed to give to your tax professional.

Future issues of the newsletter will deal with such topics as -

* THE ONE PERSON LLC

* THE SELF-EMPLOYMENT TAX

* THE HEALTH INSURANCE DEDUCTION

* LISTED PROPERTY

* USING YOUR CAR FOR BUSINES

* HOW TO ENJOY A TAX DEDUCTIBLE VACATION

* THE HOME OFFICE DEDUCTION

* REPORTING REIMBURSED EXPENSES

* RETIREMENT PLANS FOR THE SELF-EMPLOYED

* and much, much more

Subscribers will be offered special discounts on other tax-saving reports throughout the year.

Click here to download a free copy of the premiere August 2016 issue, which discusses some of my best advice, some truly bad advice, and putting your kids on the payroll.

A 1-year, 6-issue, subscription is only $11.95 delivered as pdf email attachment. A print edition sent via postal mail is also available for $24.95.

To order your subscription send your check or money order, payable to TAXES AND ACCOUNTING, INC, for $11.95 or $24.95 and your email or postal address to –

ROBERT D FLACH’S THE SCHEDULE C LETTER

TAXES AND ACCOUNTING, INC

POST OFFICE BOX A

HAWLEY PA 18428

TTFN