The Golf Tax Lady

TEXAS SALES AND USE TAX
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Credits Taken and Exported Sales Information about credits and exported sales.

Unpopular Opinion
Trade & Barter

Let's take care of ourselves.
You got a lot of kids clothes but need eggs? I know someone that has eggs that needs kids clothes.
You're a plumber that needs his truck fixed. I know a mechanic that needs plumbing work.
You clean houses but need tax help. I'm a tax professional and need my house cleaned.
You've got a shed full of grandma's stuff or a closet that is so deep you haven't touch things in it since the last time you moved.

I am a strong advocate for Barter & Trade.
Yes it must be included in your income if it is your profession like plumbing or HVAC or a salon or a bakery.

During the Shutdown of 2020 and 2021 "Monica's Tax Practice" offer trade for services.
What I received for tax preparation was, but not limited to,

HP LaserJet printer $400 (it was still in a box in clients garage)
Design Services for my logo
Tamales for every month for 12 months
18V Leaf Blower
Offer to reset my entry door
Lawn mowed, weedeaten, and leafs were bagged.
MLS look up and discussed with owner to purchase property

There are lots of us out here willing to work outside of the dollar bill/crypto.
No it's not "normal" anymore but what the hell is normal anyway?

If you need tax help, call me first.

https://home.treasury.gov/news/press-releases/sb0038?fbclid=IwY2xjawIysbpleHRuA2FlbQIxMQABHQoxS5lqMcPc3YSe_bXu_UVvaAiXo41JcIHGibpRklFzOJpwaHY1CaDIfw_aem_4qwYB4ZvNGsDBxt2i5NlHQ

This is truly over for American Citizens and Domestic Companies.

Treasury Department Announces Suspension of Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies The Treasury Department is announcing today that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penal...

Investment in a foreign entity but didn't receive income?
It is still taxable.

https://www.kxan.com/investigations/president-trump-orders-hiring-freeze-on-federal-positions-including-irs-openings/

The IRS sent an auditor to audit a hospital. While the agent was checking the books he turned to the CEO of the hospital and said, “I notice you buy a lot of bandages. What do you do with the end of the roll when there’s too little left to be of any use?”

“Good question,” noted the CEO. “We save them up and send them back to the bandage company and every now and then they send us a free box of bandages.”

“Oh,” replied the auditor, somewhat disappointed that his unusual question had a practical answer. But on he went, in his obnoxious way.

"What do you do with all the left over plaster when you set a cast?" Since the CEO was onto the auditor at this point, he responded "We save it all and send it back to the company and every once in a while, they send us a free box of plaster." Thwarted, the auditor continued his audit.

“What do you do with all the leftover foreskins from the circumcisions you perform?” “Here, too, we do not waste,” answered the CEO.

“What we do is save all the little foreskins and send them to the IRS, and about once a year they send us a complete dick.”

Have questions?

Appropriate for the new administration.
Don't you think?

Rolling a D20 for concentration on the Pub 17

The deadline for submitting W-2s, 1099 NECs, and 1099 MISCs is January 31st. If this date coincides with a Saturday, Sunday, or legal holiday, the deadline will shift to the next business day. If you have not received your Form W-2 or 1099 by January 31st and are awaiting a paper copy, you are not required to notify the IRS. Rather, provide an additional week for postal delivery, or consider contacting your employer for an electronic copy, which is usually a quicker option.

REMINDER: Last day to make an estimated payment for your 2024 personal taxes is January 15, 2025.
Otherwise, penalties may be charged.