Larry Hess, CPA
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MY SERVICES
ABOUT ME
IRS NEWS
WORKSHOPS
• IRS Workshops
• Basic (very basic) Bookkeeping Workshop
• Basic Gross Receipts Tax Workshop
• Sign up for workshops
• Workshop feedback
TOPICS FOR EVERYONE
• Are estimated taxes really estimates?
• Charitable donations.
• Does changing my name affect my taxes?
• Earning income on the side: Is it a hobby or a business?
• How can I minimize the estimated tax penalty?
• How do I get copies of my tax returns and transcripts?
• How does the IRS contact taxpayers?
• How long should I keep my tax records?
• I have bank accounts, brokerage accounts and retirement accounts outside the United States. Do I have to report them?
• I made a mistake on my tax retun. How can I correct it?
• I'm thinking about retiring early. What sorts of tax information should I know about?
• What are IRS penalties and interest?
• What is the New Mexico tax amnesty I've heard about?
BUSINESSES
• 1099s
• Gross receipts tax
• How do I know if the individuals providing services are employees or independent contractors?
• I use my home for my business. Am I allowed to take a deduction for that?
• I'm thinking about having family members working in the family business. What should I know?
• Payroll taxes
• Should business owners prepare their own returns?
• Three things to know when starting a business.
• What are the legal structures from which I can choose for my business?
• What do I need to know about recordkeeping?
INDEPENDENT CONTRACTORS
• Independent contractors are businesses.
• What are the taxes that self-employed people have to pay?
• What is the sharing or gig economy I've heard about and how does it affect my taxes?
• Gross receipts tax
TAX PROBLEMS
• I received a letter that I'm being audited for gross receipts tax. What's this all about?
• I got a letter or notice from the IRS. What should I do?
• I have a payment plan with the IRS for back taxes and can't pay what I owe for this year. What should I do?
• I have not filed my current tax return and won't be able to pay what I owe. What should I do?
• I owe the IRS more money than I can pay. What are my options?
• The IRS has charged me penalties and interest. Can I get them removed?
• What does it mean to resolve a tax debt?
• What happens if I default on my installment agreement?
Q&As
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Hot Topic
Gross Receipts Tax
BUSINESSES
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• 1099s
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• I didn't get a 1099. Does that mean the money I received is not taxable?
I didn't get a 1099. Does that mean the money I received is not taxable?
The short answer:
No
!
All money you receive for selling merchandise and providing services is taxable.
It's your customer's responsibility to file 1099s. If they don't, that's their problem. You must still report this income.