Printable Version of Topic

Click here to view this topic in its original format

914World.com _ 914World Garage _ WOT! Any CPA's Around?

Posted by: okieflyr Feb 8 2006, 06:33 PM

I've got a question regarding a 1099 Misc. I think I'm seeing a change from previous years in respect to paying SE tax? Is there a change for 05? Thanks.... KB

Posted by: okieflyr Feb 9 2006, 07:29 AM

Understandingly busy I"ll guess...... KB

Posted by: blitZ Feb 9 2006, 07:35 AM

I'm also self employed 1099. You really should find an accountant. Our returns are fairly complex and their are tons of things you could probably be taking advantage of, which a good accountant can point out. Besides, the fee you pay your accountant is tax deductible as a business expense.

Posted by: Dead Air Feb 9 2006, 10:25 AM

My girlfriends a CPA. I'll ask her tonight.
And she has started her own business after 19 years in a large local office.

Posted by: dweymer Feb 9 2006, 10:43 AM

I believe the only change is the upper limit subject to SE tax.

http://www.irs.gov/publications/p334/ch01.html#d0e1165

Please see a CPA, and not just an accountant(which I am). CPAs are required to maintain certain continuing ed, and usually they take a tax update course each year and subscribe to many trade journals which detail the changes. They not only will give you great advice for your taxes, they are more liable as paid preparers=cya.

Donnie

Posted by: okieflyr Feb 9 2006, 01:59 PM

Thanks for the input and links guys. The 1099misc was only a lesser portion of my income last year, but it appears to have added complications for which I'm not qualified to sort out, and stay out of trouble....
Now to find a CPA.... KB

Posted by: winterkornj Feb 9 2006, 09:44 PM

PM me I am a CPA